Bitcoin ETFs Face Outflows as Altcoins Attract Investment
- Bitcoin ETFs experienced outflows of $120.24 million, marking a second consecutive session of losses.
- Grayscale’s GBTC and Blackrock’s IBIT saw combined outflows of $46.75 million, while Morgan Stanley’s MSBT gained $4.49 million.
- Ether ETFs recorded positive inflows totaling $34.75 million, with trading activity reaching $852.09 million.
- XRP and Solana funds increased by $12.29 million and $11.73 million respectively, indicating a shift towards altcoin exposure.
- Bitwise predicts significant ETF inflows in Q4 as institutions expand their crypto allocations.
The recent data highlights a trend where investors are moving away from bitcoin into altcoins such as ether, XRP, and solana due to ongoing outflows from bitcoin ETFs like Grayscale’s GBTC and Blackrock’s IBIT.
Despite the current outflows in bitcoin ETFs, the market remains optimistic about future institutional investments in digital assets during Q4, driven by anticipated regulatory approvals for broader crypto allocations by institutions.(Source)
