Bitcoin

Even with Bitcoin and Ethereum prices recovering, ETFs tied to these cryptos faced large outflows. Bitcoin ETFs saw over $400 million in withdrawals since early August. Ethereum ETFs had $341.35 million outflow in the first week and another $169.35 million the next week.Grayscale’s GBTC also experienced $69.12 million in outflows in just one day. These trends highlight the ongoing <a href="https://cryptosheadlines.com/jpmorgan-urges-caution-in-volatile-crypto-market-with-bitcoin-btc/" rel="noopener noreferrer nofollow">volatility and changing investor sentiment in the crypto market</a>.<img src="https://academy-public.coinmarketcap.com/optimized-uploads/008a54ad15154dd1a218e3764596140b.png" /><h3 id="bitcoin-etfs-and-grayscale-see-major-outflows-amid-market-volatility">Bitcoin ETFs and Grayscale See Major Outflows Amid Market Volatility</h3>Bitcoin ETFs faced significant net outflows, totaling $168.44 million on August 5. Grayscale’s GBTC experienced $69.12 million in outflows over the past day and has seen a total drainage of around $19.13 billion to date.<a href="https://cryptosheadlines.com/spot-bitcoin-etf-launch-blackrock-ark-21shares-join/" rel="noopener noreferrer nofollow">ARK 21Shares Bitcoin ETF</a> and Fidelity’s FBTC reported negative flows of $69 million and $58 million, respectively. However, <a href="https://cryptosheadlines.com/grayscale-bitcoin-trust-surges-towards-2023-highs-on-blackrock-etf-filing-buyers-rally/" rel="noopener noreferrer nofollow">Grayscale Bitcoin Mini Trust</a> reported a counter-trend inflow of $21.8 million.In the last five trading days, <a href="https://cryptosheadlines.com/us-sec-considers-spot-bitcoin-etf-filings-inadequate-report/" rel="noopener noreferrer nofollow">spot Bitcoin ETFs</a> have seen a cumulative outflow of $423 million. A massive outflow of $237.35 million on August 2, 2024, led to a decline in Bitcoin prices.<img src="https://academy-public.coinmarketcap.com/optimized-uploads/493db051599348bd9756a036351d85c4.webp" />Source: SosovalueBitcoin’s price has fallen over 17% in the past week, dropping from the $66,000 to $50,000 range. Despite this, it has recovered more than 6% in the last 24 hours and is currently trading at an average price of $55,205, with a market cap of $1.08 trillion.<img src="https://academy-public.coinmarketcap.com/optimized-uploads/008a54ad15154dd1a218e3764596140b.png" /><h3 id="ether-etfs-experience-volatility-amid-market-fluctuations">Ether ETFs Experience Volatility Amid Market Fluctuations</h3>The recently <a href="https://cryptosheadlines.com/bitcoin-and-ethereum-etfs-launch-in-hong-kong-will-they-live-up-to-expectations/" rel="noopener noreferrer nofollow">launched Ether-linked ETFs</a> faced significant weekly losses, impacting the movement of Ethereum, the largest altcoin by market cap. In the first week, ETH ETFs saw outflows of $341.35 million, followed by $169.35 million in the second week. However, a positive flow is anticipated in the third week.Despite a challenging start, <a href="https://cryptosheadlines.com/no-net-flows-for-hong-kong-spot-ether-etfs-amid-us-approval-hopes/" rel="noopener noreferrer nofollow">Ether ETFs managed to maintain positive flow</a> rates amidst fluctuating investor sentiment. On August 5, the total net inflow for ETH ETFs reached $48.73 million. The only exception was Grayscale’s ETHE, which reported a negative outflow of $46.84 million over the past day.<a href="https://cryptosheadlines.com/solana-outpaces-ethereum-in-july-but-crypto-market-faces-major-downturn/" rel="noopener noreferrer nofollow">Also Read: Solana Outpaces Ethereum in July; but Crypto Market Faces Major Downturn</a>BlackRock’s ETHA saw an inflow of $47.09 million, while Fidelity’s FETH and VanEck’s ETHV each had inflows of over $16 million. Conversely, <a href="https://cryptosheadlines.com/grayscale-ethe-faces-major-outflows-amid-ethereum-etf-trends/" rel="noopener noreferrer nofollow">Grayscale’s ETHE experienced an outflow</a> of $46.84 million.Ethereum’s price has declined by 26% over the past week due to bearish sentiments. However, it showed a recovery rally of 8% in the last 24 hours, currently trading at an average price of $2,460.<img src="https://academy-public.coinmarketcap.com/optimized-uploads/6e62c519b68b4aacbbc6ce3bbd9f2562.png" />Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.Join Cryptos Headlines <a href="https://linktr.ee/cryptosheadlines.com" rel="noopener noreferrer nofollow">Community</a>Follow Cryptos Headlines on <a href="https://news.google.com/publications/CAAqBwgKMLz3-wowvuzoAg" rel="noopener noreferrer nofollow">Google News</a>Join our official TG Channel: <a href="https://t.me/CryptosHeadlines" rel="noopener noreferrer nofollow">https://t.me/CryptosHeadlines</a>

Bitcoin and Ethereum ETFs Face Major Outflows Amid Market Volatility

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