Spot Bitcoin ETF recorded a net inflow of $118.8 million on October 6, reversing the net outflow of $89.8 million from the previous trading day.

Bitcoin ETF Fund Flow

IBIT of BlackRock almost monopolized all the buying orders, attracting $122 million in capital inflows. MSBT of Morgan Stanley saw an increase of $7.8 million, while BTC of Grayscale recorded a capital outflow of $11 million. None of the other funds had any capital movements on that day.

Despite the weakening of BTC, the cash flow of ETF still returned to positive values. On October 6th, Bitcoin traded around the mid-range of $85,000 for most of the time, and then came under pressure and declined on October 7th. BTC has fallen below $85,000, with a decline of about 2.07% at the time of publication.

The broader crypto market is also under pressure, due to factors such as rising oil prices, increasing yields on U.S. Treasury bonds, a stronger U.S. dollar, and the liquidation of leveraged long positions.

Ethereum ETF Outflow Accelerates

The situation for Ethereum ETF is clearly weaker. On October 6th, these funds experienced a net outflow of $201.9 million, marking the sixth consecutive trading day of capital withdrawal, and it was also the largest single-day outflow in several weeks.

Ethereum ETF Fund Flow

All the outflows came from ETHA of BlackRock. This fund had an outflow of $201.9 million in a single day, while other Ethereum ETF funds had no capital movements on average per day.

As ETF continues to flow out, ETH also shows signs of weakness. On October 6th, Ethereum briefly exceeded $2700 before falling back down.

Overall, despite the decline in cryptocurrency prices, Bitcoin ETF has still successfully attracted new funds; however, the continuous ETF outflow from Ethereum indicates that investors are clearly more cautious regarding ETH.

Danielle Walgenbach

Danielle is a journalist who covers cryptocurrency and financial markets. She has over four years of reporting experience and is adept at breaking down complex financial and economic topics into clear and solid reports.