Ethereum ETFs Suffer Largest Outflow in Three Weeks Amidst Market Downturn
US spot Ethereum ETFs experienced their largest daily outflow since mid-September on October 6.
- Ethereum ETFs saw $201.9M in outflows on October 6, the highest in three weeks.
- Bitcoin ETFs attracted $118.9M during the same period.
- ETH price dropped 3.92% in the last 24 hours amidst broader market decline.
- Bitcoin Sees $3.3 Billion Outflow from Binance, Highest in Three Years
- Ethereum ETFs Record $206M Outflows as Bears Sell Despite Price Stability
- Ethereum ETFs Suffer Largest Outflow in Three Weeks Amidst Market Downturn — this brief
On October 6, US spot 
Ethereum (ETH) exchange-traded funds (ETFs) recorded outflows totaling $201.9 million, marking the largest daily withdrawal since mid-September. This development comes amidst a broader market downturn, with the total crypto market cap currently at $2.93 trillion.
The outflows from Ethereum ETFs were part of a six-day streak of withdrawals, indicating sustained pressure on ETH demand. Despite this, ETH's price had remained relatively stable throughout most of the streak before experiencing a 3.92% drop in the last 24 hours, bringing its price to $2610.2.
In contrast, 
Bitcoin (BTC) ETFs saw inflows of $118.9 million during the same period, suggesting a divergence in investor sentiment between the two leading cryptocurrencies. BTC's price also declined, albeit less sharply, with a 24-hour drop of 2.41%, bringing its price to $83952.
The broader market sentiment, as indicated by the Fear & Greed index at 71 (Greed), suggests that while investors are not in a state of extreme fear, there is a noticeable shift in investment flows. The divergence in ETF flows between ETH and BTC may reflect a reallocation of assets amidst uncertainty.
This development is significant as it highlights the continued volatility in the crypto market and the varying investor sentiments towards different cryptocurrencies. The outflows from Ethereum ETFs could indicate a short-term shift in demand, while the inflows into Bitcoin ETFs suggest a potential flight to perceived safety.
At today's peer-to-peer rate, 1 BTC ≈ ₦114.40M (about $83,775.00), down 2.5% over 24 hours. The naira itself trades about 2.8% above the official rate on the P2P market, so a Nigerian buyer's effective cost differs from the headline dollar price.
Live market data
Current prices for the assets in this story — live, source-stamped, updated every 15 minutes.
Bitcoin — questions
How much is 1 Bitcoin worth in naira today?
About ₦114.40M at the live peer-to-peer (P2P) USDT rate, which is what Nigerians typically trade at — equivalent to roughly $83,775.00. The naira price moves with both BTC's US-dollar price and the USDT/NGN rate; use our Bitcoin in naira page for any amount.
Has Bitcoin's price moved since this brief was published?
BTC is down 0.21% since this brief first published — trading at $83,775.00 now versus $83,952.00 at publication. TLT re-checks this figure against CoinGecko and Binance every 15 minutes.
Which outlets reported this story?
This is an original TLT brief that synthesises reporting from BeInCrypto. It is not a copy of any one article — follow the source links above for the original reporting.
Original summary — not financial advice. This is an original TLT brief that summarises a development reported elsewhere and adds live market data for context; it is not the original article and reproduces no part of it. Follow the source link above for full details. Crypto is volatile and high-risk — always do your own research.