Bitcoin Spot ETF Nets $79M Outflow After 7-Day Inflow Streak
Bitcoin spot ETFs recorded a net outflow of $79.09 million on Tuesday, marking the first outflow after a consistent inflow streak over the past seven days.
What Happened: BlackRock‘s (NASDAQ:IBIT) ETF, showed a gain of $42.9 million on Oct. 22, while ARK Invest‘s (CBOE: ARKB) ETF saw a substantial outflow of $134.7 million. These figures indicate mixed sentiment across Bitcoin-focused funds, despite the overall market outflow.
Ethereum spot ETFs showed resilience with a net inflow of $11.9 million on the same day, pointing to contrasting trends between the two leading cryptocurrencies, according to data from SoSo Value.
Fidelity‘s (CBOE: FETH) ETF recorded the most significant net inflow of $11.9 million, helping Ethereum spot ETFs maintain a positive momentum despite Bitcoin’s outflow.
Cumulative inflows for Ethereum ETFs have reached $1.2 billion, further underscoring Ethereum’s relative strength in the current environment.
In a note sent to Benzinga, according to Illia Otychenko, Lead Analyst at CEX.IO, Bitcoin‘s (CRYPO: …
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