Three pieces of balance-sheet and flow data landed together on the first weekend of November.
Funds first. Crypto Insiders reports that US spot bitcoin ETFs lost $643.2 million on Friday, led by BlackRock’s IBIT at $233.7 million, Fidelity’s FBTC at $201 million and ARKB at $129.5 million. Ether ETFs also saw outflows, and the combined Friday outflow comes to about €715 million, roughly $799 million on that count; other trackers put the day closer to $779 million. For the week, bitcoin ETFs lost a net $202.4 million as Monday-to-Thursday inflows were wiped out, while ether ETFs lost $431.4 million. The data do not show that the Binance hack caused the selling.
Strategy says its dollar reserves and cash now cover about 3.4 years of interest on its debt and dividends on its preferred shares, up from about 2.6 years in August. These are the company’s own figures. It sold roughly €388 million of bitcoin this year, partly for dividends and preferred-share buybacks. Crypto Insiders notes that in the company’s June filing the bitcoin was not pledged as collateral, so a lender could not automatically force a sale. The real risk is losing access to new funding.
On Tether, a BDO assessment of reserves at September 30 shows about €172 billion in assets against about €165 billion in liabilities, a buffer of roughly €7.1 billion. About 73% of reserves are short-term and liquid. A 4.2% loss on total reserves would erase the extra cover if liabilities stay the same. The review covers a single date and assumes normal market conditions.
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Sources:
- Crypto Insiders: Beleggers trekken 715 miljoen euro uit bitcoin- en ethereumfondsen
- Crypto Insiders: Strategy vergroot buffer tegen gedwongen bitcoinverkoop
- Crypto Insiders: 4,2% verlies kan miljardenbuffer achter grootste stablecoin uitwissen
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