Bitcoin Spot ETF Inflows Drop to Weekly Low of $32 Million

Key Points:

• Bitcoin Spot ETF Inflows reached a low of $32.1M on October 31, the lowest in the last week.
• Bitcoin Spot ETF Inflows reflect cautious investor sentiment, while Ethereum saw steady interest with $13M inflows.

Bitcoin Spot ETF Inflows on October 31 hit $32.1M, marking the lowest in a week. Ethereum Spot ETF followed with $13M inflows on the same day.

October 31: Bitcoin Spot ETF Inflows Drop to Weekly Low

On October 31, the Bitcoin spot ETF logged its lowest net inflow in the past seven days, coming in at $32.1 million. This marks a downturn in inflows amidst a recent spate of appetite for Bitcoin ETFs as market participants closely watch the pace of adoption of the said funds. While Bitcoin ETFs have had consistent inflows, this latest number is a downtick from the larger daily inflows it saw at the start of the week. This could be due to general market up-and-downs or possibly investor skittishness before possible regulation developments, according to Sosovalue.

On the other hand, Ethereum’s spot ETF net inflow amounted to $13 million on the same day, as interest in the digital asset remained if muted. This gap between Bitcoin and Ethereum inflows reflects the current dominance of Bitcoin in the ETF market, but at the same time underlines the growing investor confidence in Ethereum-based ETFs. While Bitcoin’s inflows do appear to slow down, both cryptocurrencies are still at the forefront when it comes to institutional interest, and analysts predict fresh momentum for them in the near term as market conditions develop.

Read more: Bitcoin Spot ETFs Celebrate $870M Inflows as Price Soars to $72K