U.S. Bitcoin (BTC) Spot ETFs Exhibit $54.94M Outflow on Nov. 1, Ethereum (ETH) ETFs Record $10.93M Outflow

The latest data from SoSoValue shows that the U.S. Bitcoin (BTC) spot ETFs exhibited a $54.94 million outflow on Nov. 1.

U.S. Bitcoin spot exchange-traded funds recorded a daily outflow of $54.94 million on Nov. 1, with Ethereum ETFs following suit with a $10.93 million outflow.

The latest data from SoSoValue shows that the U.S. Bitcoin (BTC) spot ETFs exhibited a $54.94 million outflow on Nov. 1. Notably, the one-day net inflow of IBIT stood at $0. According to the data, the cumulative net inflow of IBIT stood at $26.14 billion.

On the other hand, GBTC exhibited a $5.51 million outflow, which has brought its cumulative net inflow to -$20.16 billion. Moreover, FBTC, ARKB and BITB showcased a net outflow of $25.64 million, $24.13 million and $5.64 million, respectively.

Grayscale Bitcoin Mini Trust is the only one that enjoyed an inflow of $13.51 million. This has brought its cumulative net inflow as of Nov. 1 to $502.07 million.

The majority of the Bitcoin ETFs reported outflows primarily rather than inflows. The cumulative total net inflow of all Bitcoin ETFs came around $24.15 billion as of Nov. 1.

Collectively, the Bitcoin spot ETFs recorded a net outflow of $54.94 million on Nov. 1 with a standard deviation of $21.88 million. Among the seven Bitcoin spot ETFs, only Grayscale Mini Bitcoin Trust enjoyed a net inflow.

Bitcoin price stood at $69,384 at the time of writing with a total market capitalization of $1.32 trillion, according to CoinDesk data.

Meanwhile, the second-largest cryptocurrency by market cap enjoyed a price of $2,490 at press time.

Earlier today, a report highlighted that crypto hedge funds are planning to launch a new wave of digital asset ETFs in the United States. This comes as the U.S. Securities and Exchange Commission is yet to approve a spot Bitcoin ETF.

However, the SEC has approved several futures-based Bitcoin ETFs, which began trading in late October. These ETFs have enjoyed massive inflows since then.

Collectively, the seven Bitcoin spot ETFs have recorded a total net inflow of $24.15 billion as of Nov. 1. This comes as the SEC is yet to approve a spot Bitcoin ETF.

Instead, the SEC has approved several futures-based Bitcoin ETFs, which began trading in late October. These ETFs have enjoyed massive inflows since then.

Collectively, the seven Bitcoin spot ETFs have recorded a total net inflow of $24.15 billion as of Nov. 1.

Relative to Bitcoin ETFs, which recorded outflows on Tuesday, the data from SoSoValue also showed that the U.S. Ethereum (ETH) ETFs also recorded a negative outflow on Nov. 1. The outflow stood at $10.93 million on Tuesday, while the cumulative total net inflow also stood at -$491.44 million as per SoSoValue data.

Interestingly, ETHE is the only Ethereum ETF that recorded an outflow of $11.43 million on Tuesday. This brought its cumulative net inflow to -$3.13 billion.

Other ETFs, including ETHA, ETH, FETH, ETHW, ETHV and EZET, stood at $0 with no inflow or outflow.

However, QETH enjoyed over $502,000 in inflow, bringing its cumulative net inflow to $25.82 million.

Collectively, the seven Ethereum ETFs recorded a net outflow of $10.93 million on Nov. 1 with a standard deviation of $3.28 million. Among the seven ETH ETFs, only QETH and ETHE enjoyed a net inflow.

The poor inflow comes when the overall crypto market cap has plunged to $2.32 trillion. Bitcoin price has dropped to the $69,400 level, while Ethereum has gone down to the $2,490 level at press time.

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