Bitcoin & Ethereum Spot ETFs Dey See Di Third Week of Net Outflow
Bitcoin spot ETF dey suffer outflow for three weeks straight, $1.22 billion don redeem between Nov 3–7 and another $1.11 billion withdraw between Nov 10–14. Big sellers na BlackRock’s IBIT ($581 million then $532 million redemption) and Fidelity’s FBTC ($438 million), but ARK 21Shares Bitcoin ETF na only fund wey get inflow ($21.6 million then $1.68 million). Assets under management for Bitcoin spot ETFs comot from $138.08 billion to $125.34 billion, still about 6.67% of Bitcoin market cap, with total inflows reach $58.85 billion. Ethereum spot ETFs also see net outflow of $508 million early November then $729 million mid-Nov, led by BlackRock’s ETHA (totalling $718 million) and Grayscale’s ETH Trust ($135 million). Total assets fall from $22.66 billion to $20 billion, about 5.42% of Ethereum market cap, against lifetime inflow of $13.13 billion. Traders interpret these steady net outflows for crypto ETFs as bearish sentiment wey fit put pressure on liquidity and increase price volatility.
Bearish
For di cryptocurrency market, di constant outflows from Bitcoin spot ETFs and Ethereum spot ETFs over weeks show say investors dey cautious and dem dey shift towards liquidate. For short term, dis net redemption dey reduce ETF liquidity and fit increase selling pressure on di underlying assets, wey fit cause price to go down and volatility to increase. For long term, if dis trend continue, e fit make people lose confidence for crypto spot products and delay capital inflows, wey go affect Bitcoin and Ethereum market dynamics negatively. History show say when ETF outflows dey continue for long, e dey mostly happen wen price trend dey bearish, wey support say crypto asset performance fit go negative.