{"id":651316,"date":"2024-11-03T10:00:58","date_gmt":"2024-11-03T10:00:58","guid":{"rendered":"https:\/\/uniquehot.com\/?p=651316"},"modified":"2024-11-03T06:53:44","modified_gmt":"2024-11-03T06:53:44","slug":"bitcoin-etfs-hot-7-day-streak-ends-record-55-million-in-net-outflows","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/bitcoin-news\/bitcoin-etfs-hot-7-day-streak-ends-record-55-million-in-net-outflows\/","title":{"rendered":"Bitcoin ETFs\u2019 Hot 7-Day Streak Ends, Record $55 Million In Net Outflows"},"content":{"rendered":"

The spot Bitcoin ETFs<\/a> (exchange-traded funds) in the United States have recorded their first net outflow day in the past seven days. This negative single-day performance ended what was another impressive weekly outing for the crypto investment products.<\/span><\/p>\n

Bitcoin ETFs Shine While Ethereum ETFs Continue To Struggle<\/b><\/h2>\n

After a strong performance throughout the month of\u00a0 October, the US-based spot Bitcoin ETFs didn’t register a perfect start to November. According to data from SoSoValue<\/a>, the BTC exchange-traded funds posted a net outflow of $54.9 million on Friday, November 1.<\/span><\/p>\n

Breaking down the data, Fidelity\u2019s FBTC surprisingly accounted for almost half ($25.64 million) of the outflow recorded on Friday. This figure was followed closely by Ark & 21Shares\u2019 ARKB\u2019s $24.13 million, the second consecutive outflow day for the fund.<\/span><\/p>\n

Related Reading: Bitcoin ETFs Crucial To Sustain Current Buying Pressure \u2013 Details<\/a><\/div>\n

Grayscale\u2019s GBTC, which usually contributes to the outflow days for the Bitcoin ETFs, recorded only $5.51 million in capital outflow. Other funds that recorded an outflow on Friday included Bitwise\u2019s BITB, VanEck\u2019s HODL, and Valkyrie\u2019s BRRR, with outflows of $5.64 million, $5.86 million, and $1.66 million, respectively.<\/span><\/p>\n

Interestingly, BlackRock\u2019s exchange-traded fund IBIT<\/a> didn\u2019t see any inflow or outflow on Friday. Prior to this zero-inflow day, the trillion-dollar asset manager\u2019s fund had seen capital influx for the last 14 consecutive days. In fact, IBIT posted its highest inflow day in the past week, with an influx of $872 million on Wednesday, October 30.<\/span><\/p>\n

While the Bitcoin ETFs posted outflows to end the previous week, the negative single-day action barely made an impact on the weekly performance. According to data from SoSoValue, the US BTC funds registered a $2.22 billion cumulative weekly inflow in the past week, the highest value since March.<\/span><\/p>\n

\"Bitcoin
Source: SoSoValue<\/figcaption><\/figure>\n

While the Bitcoin exchange-traded funds have been producing remarkable performance in recent days, their Ethereum counterparts have not exactly impressed. After witnessing an almost $11 million outflow on Friday, the weekly capital influx was slashed to approximately $13 million for the spot Ethereum ETFs.<\/span><\/p>\n

Bitcoin Price Overview<\/b><\/h2>\n

Investors will be hoping that the Bitcoin ETFs will resume inflows when trading opens on Monday, considering its recent positive impact on price. The price of BTC almost touched its all-time high of $73,737 on Tuesday and Wednesday when the ETFs recorded their highest inflows in more than five months.<\/span><\/p>\n

Related Reading: BNB Token Burn: $1 Billion Of Tokens Sent To \u2018Black Hole\u2019 Address \u2014 Impact On Price?<\/a><\/div>\n

As of this writing, the price of BTC<\/a> sits just above $68,000, reflecting a 2% dip in the past 24 hours. According to data from CoinGecko, the premier cryptocurrency is up by more than 3% in the last seven days.<\/span><\/p>\n

\"Bitcoin
The price of BTC falls to $68,000 on the daily timeframe | Source: BTCUSDT chart on TradingView<\/a><\/figcaption><\/figure>\n
Featured image created by Dall.e, chart from TradingView<\/em><\/div>\n","protected":false},"excerpt":{"rendered":"

The spot Bitcoin ETFs (exchange-traded funds) in the United States have recorded their first net outflow day in the past seven days. This negative single-day performance ended what was another impressive weekly outing for the crypto investment products. Bitcoin ETFs Shine While Ethereum ETFs Continue To Struggle After a strong performance throughout the month of\u00a0 October, the US-based spot Bitcoin ETFs didn’t register a perfect start to November. According to data from SoSoValue, the BTC exchange-traded funds posted a net outflow of $54.9 million on Friday, November 1. Breaking down the data, Fidelity\u2019s FBTC surprisingly accounted for almost half ($25.64 million) of the outflow recorded on Friday. This figure was followed closely by Ark & 21Shares\u2019 ARKB\u2019s $24.13 million, the second consecutive outflow day for the fund. Related Reading: Bitcoin ETFs Crucial To Sustain Current Buying Pressure \u2013 Details Grayscale\u2019s GBTC, which usually contributes to the outflow days for the Bitcoin ETFs, recorded only $5.51 million in capital outflow. Other funds that recorded an outflow on Friday included Bitwise\u2019s BITB, VanEck\u2019s HODL, and Valkyrie\u2019s BRRR, with outflows of $5.64 million, $5.86 million, and $1.66 million, respectively. Interestingly, BlackRock\u2019s exchange-traded fund IBIT didn\u2019t see any inflow or outflow on Friday. Prior to this zero-inflow day, the trillion-dollar asset manager\u2019s fund had seen capital influx for the last 14 consecutive days. In fact, IBIT posted its highest inflow day in the past week, with an influx of $872 million on Wednesday, October 30. While the Bitcoin ETFs posted outflows to end the previous week, the negative single-day action barely made an impact on the weekly performance. According to data from SoSoValue, the US BTC funds registered a $2.22 billion cumulative weekly inflow in the past week, the highest value since March. While the Bitcoin exchange-traded funds have been producing remarkable performance in recent days, their Ethereum counterparts have not exactly impressed. After witnessing an almost $11 million outflow on Friday, the weekly capital influx was slashed to approximately $13 million for the spot Ethereum ETFs. Bitcoin Price Overview Investors will be hoping that the Bitcoin ETFs will resume inflows when trading opens on Monday, considering its recent positive impact on price. The price of BTC almost touched its all-time high of $73,737 on Tuesday and Wednesday when the ETFs recorded their highest inflows in more than five months. Related Reading: BNB Token Burn: $1 Billion Of Tokens Sent To \u2018Black Hole\u2019 Address \u2014 Impact On Price? As of this writing, the price of BTC sits just above $68,000, reflecting a 2% dip in the past 24 hours. According to data from CoinGecko, the premier cryptocurrency is up by more than 3% in the last seven days. Featured image created by Dall.e, chart from TradingView<\/p>\n","protected":false},"author":590,"featured_media":651325,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[88240],"tags":[428,9960,7720,92385,89583],"class_list":["post-651316","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin-news","tag-bitcoin","tag-bitcoin-etfs","tag-blackrock","tag-sosovalue","tag-spot-bitcoin-etfs"],"acf":[],"yoast_head":"\nBitcoin ETFs\u2019 Hot 7-Day Streak Ends, Record $55 Million In Net Outflows<\/title>\n<meta name=\"description\" content=\"The spot Bitcoin ETFs (exchange-traded funds) in the United States have recorded their first net outflow day in the past seven days.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" 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While the digital asset industry was not his first choice, he has remained absolutely drawn since making a foray into the space over two years. Now, Opeyemi takes pride in creating unique pieces unraveling the complexities of blockchain technology and sharing insights on the latest trends in the world of cryptocurrencies. Opeyemi savors his attraction to the crypto market, which explains why he spends the better parts of his day looking through different price charts. \u201cLooking\u201d is a rather simple way to describe analyzing and interpreting various price patterns and chart formations. However, it appears that is not Opeyemi\u2019s favorite part - in fact, far from it. Being able to connect what happens on a price chart to on-chain movements and blockchain activities is what keeps Opeyemi ticking. \u201cThis emphasizes the intricacies of blockchain technology and the cryptocurrency market,\u201d he would say. Most importantly, Opeyemi thinks of any market insights as the gospel, while recognizing that he is only a messenger. When he is not clicking away at his keyboard, Opeyemi is most definitely listening to music, playing games, reading a book, or scrolling through X. He likes to think he is not loyal to a particular genre of music, which can be true on many days. However, the fast-rising Afrobeats genre is a staple in Opeyemi\u2019s Spotify Daily Mix. Meanwhile, Opeyemi is a voracious reader who enjoys a wide category of books - ranging from science fiction, fantasy, and historical, to even romance. He believes that authors like George R. R. Martin and J. K. Rowling are the greatest of all time when it comes to putting pen to paper. Opeyemi believes his reading of the Harry Potter series twice is proof of that. Indeed, Opeyemi enjoys spending most of his time within the four walls of his home. However, he also sometimes finds solace in the company of his friends at a bar, a restaurant, or even on a stroll. In essence, Opeyemi\u2019s ambivert (haha! been searching for an opportunity to use the word to describe myself) nature makes him a social chameleon who is able to quickly adapt to different settings. Opeyemi recognizes the need to constantly develop oneself in order to stay afloat in a competitive and ever-evolving market like crypto. For this reason, he is always in learning mode, ready to pick up the slightest lesson from every situation. Opeyemi is efficient and likes to deliver all that is required of him in time - he believes that \u201cwhatever is worth doing at all is worth doing well.\u201d Hence, you will always find him striving to be better. Ultimately, Opeyemi is a good writer and an even better person who is trying to shed light on an exciting world phenomenon - cryptocurrency. He goes to bed every day with a smile of satisfaction on his face, knowing that he has done his bit of the holy assignment - spreading the crypto gospel to the rest of the world.","sameAs":["https:\/\/www.linkedin.com\/in\/opeyemi-sule-027bb5227","https:\/\/x.com\/https:\/\/twitter.com\/fwOpeyemi"],"url":"https:\/\/uniquehot.com\/author\/oluwatosino\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Bitcoin ETFs\u2019 Hot 7-Day Streak Ends, Record $55 Million In Net Outflows","url":"http:\/\/uniquehot.com\/bitcoin-news\/bitcoin-etfs-hot-7-day-streak-ends-record-55-million-in-net-outflows\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/uniquehot.com\/bitcoin-news\/bitcoin-etfs-hot-7-day-streak-ends-record-55-million-in-net-outflows\/"},"thumbnailUrl":"https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/11\/2024-11-03-02.21.21.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/11\/2024-11-03-02.21.21.jpg?fit=1024%2C1024"},"articleSection":"Bitcoin News","author":[{"@type":"Person","name":"Opeyemi Sule"}],"creator":["Opeyemi Sule"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/uniquehot.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["bitcoin","bitcoin etfs","blackrock","sosovalue","spot bitcoin etfs"],"dateCreated":"2024-11-03T10:00:58Z","datePublished":"2024-11-03T10:00:58Z","dateModified":"2024-11-03T10:00:58Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Bitcoin ETFs\\u2019 Hot 7-Day Streak Ends, Record $55 Million In Net Outflows\",\"url\":\"http:\\\/\\\/uniquehot.com\\\/bitcoin-news\\\/bitcoin-etfs-hot-7-day-streak-ends-record-55-million-in-net-outflows\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/uniquehot.com\\\/bitcoin-news\\\/bitcoin-etfs-hot-7-day-streak-ends-record-55-million-in-net-outflows\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2024\\\/11\\\/2024-11-03-02.21.21.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2024\\\/11\\\/2024-11-03-02.21.21.jpg?fit=1024%2C1024\"},\"articleSection\":\"Bitcoin News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Opeyemi Sule\"}],\"creator\":[\"Opeyemi Sule\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"bitcoin\",\"bitcoin etfs\",\"blackrock\",\"sosovalue\",\"spot bitcoin etfs\"],\"dateCreated\":\"2024-11-03T10:00:58Z\",\"datePublished\":\"2024-11-03T10:00:58Z\",\"dateModified\":\"2024-11-03T10:00:58Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/uniquehot.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/11\/2024-11-03-02.21.21.jpg?fit=1024%2C1024","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/651316","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/users\/590"}],"replies":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/comments?post=651316"}],"version-history":[{"count":5,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/651316\/revisions"}],"predecessor-version":[{"id":651367,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/651316\/revisions\/651367"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media\/651325"}],"wp:attachment":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media?parent=651316"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/categories?post=651316"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/tags?post=651316"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}