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On October 2, spot Bitcoin 
$104,356 ETFs in the United States faced considerable losses, particularly affecting major funds such as those from BlackRock, Ark Invest, and Grayscale. Notably, Fidelity’s fund attracted investments during this period, contrasting the overall trend in the Bitcoin ETF market. Additionally, spot Ethereum 
$2,514 ETFs continued to capture investor interest.
Spot Bitcoin ETFs Suffer Major Losses
U.S.-based spot Bitcoin ETFs closed the previous day with losses amounting to $91.7 million. The majority of these losses stemmed from three major fund companies. The most significant withdrawal was noted from Ark Invest’s ETF, which saw an outflow of $60 million. Grayscale’s fund followed with a $27 million outflow, while BlackRock’s ETF closed the trading day with a $13 million withdrawal.
In contrast, Fidelity’s ETF managed to attract $21 million in investments, demonstrating that some funds still garnered interest despite the general negativity surrounding spot Bitcoin ETFs.
Increased Interest in Spot Ethereum ETFs
Despite the outflows in spot Bitcoin ETFs, spot Ethereum ETFs continued to attract investor attention. Recent data indicated an inflow of $14 million into spot Ethereum ETFs, with BlackRock’s fund leading the charge, receiving $18 million.
These developments in the ETF sector reflect ongoing interest in various asset classes within the cryptocurrency market and suggest a growing confidence among investors in Ethereum. The demand for spot Ethereum ETFs may indicate an inclination among investors to diversify their portfolios, even amid the outflows from spot Bitcoin ETFs.
As overall volatility in the cryptocurrency market persists due to rising geopolitical tensions, the trends within U.S. spot cryptocurrency ETFs present a complex picture for investors. These trends should be closely monitored, as they continue to play a significant role in shaping the future of the cryptocurrency market.
