365Crypto
Crypto should be immune in a way to the political events, even some argue that crypto prosper with instability, however the ETFs are here to anchor back the crypto industry to traditional economies.
Following the rapid escalation in the middle east, Israeli war in Gaza, Israeli invasion of Lebanon and Iranian missile attack on Israel, the crypto ETF have seen huge outflows.
Fidelity’s Ethereum Fund Loses $25M in One Day
On October 1, Fidelity’s Ethereum Fund (FETH) saw $25 million pulled out in just one day. This was the biggest daily outflow among U.S. Ether ETFs, excluding Grayscale’s Ethereum Trust (ETHE).
Big Withdrawals Hit Ether ETFs
Ether ETFs saw a total of $48.6 million in withdrawals across nine different funds. Fidelity’s FETH lost $25 million, Grayscale’s ETHE had $26.6 million in outflows, and Bitwise’s Ethereum ETF (ETHW) saw $0.9 million withdrawn.
A Few Funds Gained
Not all funds lost money. 21Shares’ Core Ethereum ETF (CETH) and VanEck’s Ethereum ETF (ETHV) both gained, bringing in $1.2 million and $2.7 million, respectively.
Grayscale Still Tops for Outflows
Grayscale’s ETHE remains the leader in daily outflows, but Fidelity’s FETH is still strong, with $453.5 million in total investments. BlackRock’s iShares Ethereum Trust (ETHA) leads overall, with over $1.14 billion in investments as of October 1.
Bitcoin ETFs Also Losing Funds
Bitcoin ETFs are seeing a similar trend. On October 1, spot Bitcoin ETFs had $242.6 million in outflows. Fidelity’s Wise Origin Bitcoin Fund (FBTC) led the pack with $144.7 million withdrawn, followed by ARK’s 21Shares Bitcoin ETF (ARKB) with $84.3 million in outflows.
