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On November 2, $140 million net was withdrawn from US exchange-traded funds on Ethereum (the fund trades on an exchange like a stock and holds the asset itself). This is the sixth trading session in a row with outflows, and 98.6% of the amount came from a single BlackRock product.
Friday's session was the worst for the Nasdaq since the start of June: the index lost 2.86%, the S&P 500 - 1.82%. This week the market goes through US elections, earnings reports from major technology companies and employment data all at once.
US spot ETFs (exchange-traded funds through which institutions buy cryptocurrency like an ordinary stock) closed October in the red: $1.61 billion was withdrawn from Ethereum funds and $515.03 million from Bitcoin funds. For ETH, this is the largest monthly outflow since launch.
On October 28, US spot Bitcoin ETFs (exchange-traded funds through which Bitcoin is bought like a regular stock) raised $137.3M, while Ethereum and Solana funds lost money again. Across the three markets combined, the result was +$110.2M.
Galaxy Research analyzed the filings of major managers: nine hedge funds and banks cut their positions in U.S. spot Bitcoin ETFs by 68,000 BTC - about $5.4 billion. The reason is not a bet against the market, but that the arbitrage scheme has almost stopped generating income.
On October 28, The Depository Trust Company (DTC) - the main US depository, through which clearing of trades on NASDAQ passes - activated the DTCC Tokenization Service. Traditional stocks and bonds can now be converted into tokens on a blockchain and sent to digital wallets while retaining the same ownership rights.
U.S. spot Bitcoin exchange-traded funds (funds whose shares trade on an exchange and track the price of the asset) attracted about $110 million on Monday, October 26. This only offset part of the $773.5 million outflow over the previous two sessions, and for the month as a whole the funds are still losing money.
Gold fell below the round mark of $4000 per ounce for the first time since July, dropping to $3,986.85. The decline followed the collapse of US technology stocks: investors sold the metal to cover margin calls on other positions.
On October 14, US exchange-traded funds (ETFs - a fund through which an asset is bought like an ordinary stock) on Bitcoin, Ethereum and Solana showed a total net outflow of about $171.5 million. A day earlier, the same funds took in $200.5 million.
On October 6, U.S. spot crypto ETFs diverged: Bitcoin funds received $118.8 million in inflows, while Ethereum funds saw $201.9 million in outflows. Overall, across Bitcoin, Ethereum, and Solana, the day closed with a net outflow of approximately $86.8 million.
