Bitcoin

Ethereum

<p>On the 9th of August, the <a href="https://blockchainreporter.net/price-prediction/bitcoin-price-prediction/" rel="noopener noreferrer nofollow">Bitcoin</a> and <a href="https://blockchainreporter.net/price-prediction/ethereum-price-prediction/" rel="noopener noreferrer nofollow">Ethereum</a> exchange-traded funds in the United States went through huge outflows. Spot On Chain, a popular on-chain analytics platform stated that the massive outflows of up to $16M and $90M from ETH and BTC ETFs indicate a cautious shift in the crypto market regarding investor sentiment. The analytics provider took to its official social media account to provide the details of the ETF flows.</p><h2 id="header-0">US ETFs World Sees Huge Outflows from Bitcoin and Ethereum</h2><p>In its recent X post, the analytics company pointed out that the Bitcoin exchange-traded funds incurred an outflow of nearly $90M. However, a couple of BTC ETFs witnessed inflows on the same day. In this respect, Grayscale Mini (BTC) recorded net inflows of almost $15.6M. Additionally, BlackRock (IBIT) effectively added $9.6M in terms of inflows on August 9. However, none of the other Bitcoin ETFs saw any inflows.</p><p>The ETFs with $0 inflows include WisdomTree (BTCW), ARK 21Shares (ARKB), VanEck (HODL), Invesco (BTCO), Valkyrie (BRRR), and Franklin (EZBC). Apart from these Bitcoin ETFs 3 BTC exchange-traded funds witnessed outflows. These ETFs take into account Bitwise (BITB), Fidelity (FBTC), and Grayscale (GBTC) with $18.1M, 19.8M, and $77M in outflows. During the recent week, the ten BTC ETFs in the US recorded cumulative outflows of up to $177 million. They saw these outflows in 3 out of five trading days.</p><p>On the other hand, Ethereum ETFs went through an outflow of almost $16M. Individually, 3 of the ETH ETFs saw some inflows. BlackRock (ETHA) saw $19.6M in net inflows. Fidelity (FETH) and Grayscale Mini (ETH) also witnessed inflows of $3.9M and $2.4M worth on August 9. Nonetheless, five Ethereum ETFs could not add any inflows. They include Bitwise (ETHW), Invesco (QETH), Franklin (EZET), VanEck (ETHV), and 21Shares (CETH). On the other hand, Grayscale (ETHE) incurred outflows of nearly $41.7M.</p><h2 id="header-1">The Possible Factors Driving This Development Include Market Volatility and Wider Geopolitical Concerns</h2><p>The substantial outflows from Ethereum and Bitcoin ETFs, as shown in <a href="https://spotonchain.com/" rel="noopener noreferrer nofollow">Spot On Chain</a> data, highlight an increasing cautiousness among crypto investors. The likely factors influencing this scenario include the recent volatility in the crypto market and the wider geopolitical concerns. This suggests that the market may experience more pressure specifically if investor confidence declines further.</p>

US ETFs Sector Experiences Massive Outflows of $90M from BTC and $16M from ETH

Table of Contents

BlockchainReporter

Other articles published on Aug 10, 2024

Gemini Urges CFTC to Reconsider Event Contract Regulation

Explosive Growth in ANDY Coin – Unveiling the Next Best Meme Coin on Presale

Harris campaign’s crypto ‘reset’ questioned amid Fed crackdown

How to Turn $500 Into $50,000: Top Cryptos for New Investors

IRS lightens crypto reporting requirements in latest tax form draft

Tether CEO: EU’s MiCA regulation puts stablecoins at risk

Join our free newsletter for daily crypto updates!