Bitcoin Spot ETF Outflows Hit $401M Despite BlackRock Inflows

Key Points:

• Bitcoin Spot ETF outflows reached $401M, marking the first recent dip.
• BlackRock’s ETF IBIT had a $127M inflow despite overall outflows.

Bitcoin Spot ETF outflows hit $401M on Nov 14, marking the first recent outflow, while BlackRock’s ETF IBIT maintained an inflow of $127M despite the trend.

Bitcoin Spot ETF Outflows See First Dip Amid BlackRock Gains

On November 14, Bitcoin spot ETFs kept seeing an amazing twist of events, recording a net outflow of $401 for the first period. Such a move would hint that investors might have changed their perception or taken profits on earlier gains to adjust their portfolio on the back of volatile markets. Against this backdrop, the outflow is a setback to the strong inflows reported over the last few days and is indicative of how cautious the mood is in the market participants.

Despite the general Bitcoin Spot ETF outflow trend, BlackRock’s Bitcoin ETF, IBIT, still saw inflows of $127 million on the same day. Strong inflows into BlackRock’s ETF underpin extended confidence in particular funds despite the downturn in the greater Bitcoin ETF market. That BlackRock could attract investors on a day where outflows were the order of the day could indicate its reputation and investor trust in its Bitcoin ETF products, according to Sosovalue.

Read more: Bitcoin Spot ETF Inflows Hit $510M, Marking Six-Day Streak

Ethereum Spot ETF Sees Outflow Amid BlackRock ETHA Inflows

The first recent outflow in Ethereum spot ETFs happened on November 14, when $3.24 million left the fund. To put this into perspective, it is a tide-changing event in the market since Ethereum spot ETFs have always enjoyed constant appeal for inflows in recent times. This could be a case of profit-taking or at least a loss of confidence by investors in the wider market conditions that take over the ETF sector.

Against this trend, BlackRock’s Ethereum ETF ETHA had inflows of 18.87 million dollars in one day, reflecting very strong investor interest in the product. Therefore, on days when the broader market is witnessing outflows, BlackRock’s Ethereum ETF is a force to reckon with; money is still flowing into it. The inflow into BlackRock’s ETHA could suggest that investors believe in long growth for Ethereum and/or also trust BlackRock’s management to see them through in volatile markets.