Bitcoin and Ethereum ETFs are declining for the second day in a row amid a renewed market downturn.
BTC is currently trading at $110,000, while ETH has fallen below $4,000.
On October 30, net outflows from Bitcoin spot funds totaled $488 million. BlackRock's IBIT and Ark & 21Shares' ARKB suffered the largest losses, each seeing outflows of over $290 million and $65 million, respectively, according to SoSoValue.
Outflows from Ethereum spot funds exceeded $184 million. Investors pulled money out of all ETFs except Grayscale's ETHE. BlackRock's ETHA led the way with $118 million in outflows, followed by Bitwise's ETHW, which saw $31 million.
While Bitcoin and Ethereum ETFs are under pressure due to the market downturn, other cryptocurrency exchange-traded funds are seeing inflows. Recently launched Solana, Hedera, and Litecoin ETFs are attracting steady inflows.
Bitwise's BSOL fund was the revelation this week, not only becoming the first Solana ETF in the US but also receiving a record inflow of $155 million in just three days.