Bitcoin

Ethereum

<p>On the 19th of this month, the crypto market went through a noteworthy shift with <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> ETFs experiencing significant outflows. As per Lookonchain, a popular on-chain analytics company, the cumulative outflow from Bitcoin ETFs reached 558 $BTC while the Ethereum ETFs saw 4,605 $ETH in outflows. The analytics platform discussed the current scenario of the ETF market on its social media account on X.</p><h2 id="header-0">Bitcoin ETFs Record an Outflow of $35.39M on September 19</h2><p>Lookonchain noted that the massive outflows of almost $558 $BTC, equaling $35.39M, reflect the investor sentiment amid the market consolidation. ARK 21Shares emerged as the most prominent contributor in the case of this outflow. The exchange-traded fund witnessed 725 $BTC in withdrawals, with a value of $46.01M. Irrespective of this, ARK 21Shares keeps on holding a great amount of $BTC. Hence, its portfolio contains nearly 44,982 $BTC, equaling $2.85B.</p><p>Bitcoin ETFs have emerged as famous investment vehicles, letting investors gain crypto exposure without a direct holding. The recent outflows indicate that a few investors may be adjusting portfolios during the market uncertainty or gaining profits. The latest volatility in the wider financial markets has likely played a crucial role in this respect.</p><p>Additionally, Ethereum ETFs also saw 4,605 $ETH (nearly $11.41M) in net outflows. <a href="https://grayscale.com/" rel="noopener noreferrer nofollow">Grayscale</a> Ethereum Trust witnesses $7.718 $ETH, valued at 19,13M. Irrespective of these outflows, a continuous dominance of Grayscale has been seen in the $ETH ETF sector. It holds 1,724,293 $ETH, equaling $4.27B. The withdrawals from Ethereum exchange-traded funds denote a trend similar to Bitcoin.</p><h2 id="header-1">The Enormous Outflows Highlight the Signify a Cooling Off Period among the Institutional Investors</h2><p>Some of the investors are potentially taking profits. Otherwise, they might be reallocating portfolios in response to the recent price changes. According to <a href="https://lookonchain.com/" rel="noopener noreferrer nofollow">Lookonchain</a>, Ethereum has witnessed fluctuating prices during the previous weeks just like Bitcoin. This could point toward a provisional cooling-off time for a few institutional investors.</p>

Bitcoin and Ethereum ETFs Experience $35.39M and $11.41M in Outflows

Table of Contents

BlockchainReporter

Other articles published on Sep 20, 2024

DWF Labs Announces Strategic Partnership with GraFun

New Cryptocurrency Releases, Listings, & Presales Today – Syncvault, NOTAI, Crypto All Stars

This Crypto Trader Predicts SUI Price Will Hit $4.5 ‘Short to Mid Term’ – Here’s Why

Sui’s Market Spikes, Challenges Cardano’s Dominance

Can Solana Withstand Market Pressures?

Crypto: Hamster Kombat Fights Against Cheaters Before The Airdrop!

Join our free newsletter for daily crypto updates!