Ethereum

Cryptocurrency

Bitcoin

<h2 id="key-points">Key Points</h2> 
<ul> 
 <li>Cryptocurrency investment products experienced $305M outflows between 24th and 31st August, with Bitcoin and Ethereum ETFs showing varied trends.</li> 
 <li>Bitcoin and Ethereum prices have been rising, but they remain below expected levels after the ETF launch.</li> 
</ul>  
<h2 id="crypto-investment-products-witness-significant-outflows">Crypto Investment Products Witness Significant Outflows</h2> 
<p>The global cryptocurrency market has been on the rise, with the market cap increasing by 2.79% and most coins gaining over 2% in the past 24 hours. However, weekly charts reveal a decline exceeding 5%.</p> 
<p>A more alarming development is the substantial outflow from cryptocurrency investment products. A CoinShares report pointed out a total of $305 million outflows during the week of 24th to 31st August. This downturn follows net inflows of $543 million the previous week, affecting major asset managers such as Ark Invest, Bitwise, BlackRock, Fidelity, Grayscale, ProShares, and 21Shares.</p> 
<h2 id="bitcoin-and-ethereum-etfs-show-mixed-trends">Bitcoin and Ethereum ETFs Show Mixed Trends</h2> 
<p>The report indicated that the negative sentiment was mainly centered on Bitcoin, witnessing $319m in outflows. Short Bitcoin investment products saw a second consecutive week of inflows totaling $4.4m. Meanwhile, Ethereum experienced $5.7m outflows, with trading volumes reaching only 15% of the levels seen during the US ETF launch week.</p> 
<p>James Butterfill, CoinShares’ Head of Research, commented that the outflows were triggered by a pervasive negative sentiment across various regions and providers. This sentiment was stoked by strong economic data from the U.S., which lowered the chances of a 50-basis point interest rate reduction.</p> 
<p>Recent data from Farside Investors confirmed a bearish trend in the <a href="https://coineagle.com/price/bitcoin/">Bitcoin (BTC)</a> ETF market, marked by consistent outflows from 26th to 30th August. In contrast, <a href="https://coineagle.com/price/ethereum/">Ethereum (ETH)</a> ETFs have demonstrated more stability. Despite outflows of $12.6 million during the same period, ETH ETFs seem to be showing signs of a potential rebound.</p> 
<h2 id="price-impact-and-future-expectations">Price Impact and Future Expectations</h2> 
<p>On the price front, both BTC and ETH have been on an upward trajectory, with green candlesticks appearing on the daily chart. In the past 24 hours, Bitcoin saw a rise of 2.22%, while Ethereum increased by 2.67%. Despite these gains, BTC and ETH were trading at $59K and $2.5K, respectively—below expectations after the ETF launch.</p> 
<p>After the ETF launch, Bitcoin initially surged past $70K in March, reflecting a strong trend. However, Ethereum has struggled to break the $3K mark, falling short of the anticipated $4K level.</p>

Alarm Bells Ring as $305M Outflows Hit Crypto Investment Products

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CoinEagle.com

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