Daily US Bitcoin ETFs Net Flow Analysis (As of November 05, 2024)

The daily net flow of U.S. Bitcoin ETFs on November 5, 2024, varied widely among funds, with several experiencing significant outflows. Notably, Fidelity’s Bitcoin ETF (Ticker: FBTC) saw a substantial outflow of 2,512 BTC, which was the largest of the day. ARK’s Bitcoin ETF (Ticker: ARKB) and Bitwise’s Bitcoin ETF (Ticker: BITB) also experienced significant reductions, with 2,047 BTC and 1,182 BTC leaving their holdings, respectively.

Despite these large outflows, there were pockets of positive movement. BlackRock’s Bitcoin ETF (Ticker: IBIT) recorded an inflow of 569 BTC. Additionally, Grayscale’s Bitcoin ETF (Ticker: BTC) added 195 BTC, providing some balance against the day’s heavier losses.

In summary, the total holdings of all ETFs were reported at 998,032 BTC, with an overall net outflow of 5,501 BTC for the day, corresponding to a market value decrease of approximately $385.3 million. This reflects a challenging day with significant capital withdrawals from several major Bitcoin ETFs, despite gains in a select few.

Disclaimer: Market capitalizations and data can vary in real-time. The information provided here is intended purely for educational purposes and should not, under any circumstances, be construed as financial advice.

Join CryptoCrunchApp on Telegram Channels – Click to Join

LATEST: Asset Manager VanEck Launches PYTH ETN in European Markets

VanEck has introduced a new exchange-traded note (ETN) on Euronext Amsterdam and Euronext Paris, marking a significant step for cryptocurrency adoption in Europe. The ETN, which tracks the Pyth Network’s PYTH token, is now accessible to investors across 15 European countries, including key markets like Germany and France. This move underscores VanEck’s commitment to integrating cutting-edge blockchain technology into traditional financial markets.

The Pyth Network, known for its decentralized oracle protocol, enables smart contracts to seamlessly interact with external data. PYTH, the network’s governance token, supports a robust ecosystem with a market capitalization of about $3.4 billion. VanEck Europe CEO Martijn Rozemuller highlighted the increasing importance of smart contracts and oracle networks in finance, emphasizing their role in enabling practical, real-world applications of blockchain technology.

Source

Bitcoin’s election market moment has arrived

This is a segment from the Empire newsletter. To read full editions, subscribe.

Harry Potter ran headfirst into a brick wall at Platform 9¾ to transcend into the Wizarding World.

We’re about to do something similar with bitcoin.

This is it. After the next few days, there are no more immediate catalysts and prophecies to fulfill.

The Bitcoin halving: The network cut issuance in half almost exactly 200 days ago. Cycle-maxis predicted it would inevitably lead to a supply shock one year later, as is tradition.

US election: Always occurs six-to-eight months after the halving — and the past two elections have preceded a full bitcoin send to all-time highs.

This… Read more on Blockworks