Tuesday, November 5, 2024

Bitcoin ETFs break pattern recording modest inflows as GBTC continues outflow

Fast Take

In accordance with knowledge from BitMEX, the Bitcoin (BTC) ETF market skilled its first day of web inflows since March 15, accumulating a modest $15.7 million, or 221.2 Bitcoin. This occasion paused 5 consecutive days of web outflows and represented the second-smallest day of inflows recorded. Regardless of this optimistic shift, the bigger narrative remained overshadowed by the substantial outflows from GBTC, which amounted to $350.1 million or 4,933.7 BTC. Consequently, GBTC’s cumulative outflows have reached $14,150.6 billion, equal to 275,059 BTC.

ETF Data in Dollars: (Source: BitMEX)
ETF Information in {Dollars}: (Supply: BitMEX)

Information from BitMEX reveals that Constancy skilled an intense day with web inflows of $261.8 million, equal to three,689.3 BTC, pushing its whole inflows to $7,213.4 billion, equal to 136,886 BTC. It’s noteworthy that not one of the remaining eight ETFs recorded any outflows. Each ARKB and BTCW remained stagnant, registering neither inflows nor outflows. As a cumulative determine, the Bitcoin ETFs have amassed $11,284.8 billion, equal to 200,673 BTC.

ETF Data in Bitcoin: (Source: BitMEX)
ETF Information in Bitcoin: (Supply: BitMEX)

The put up Bitcoin ETFs break pattern recording modest inflows as GBTC continues outflow appeared first on CryptoSlate.

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