Ethereum

Bitcoin

mini

<figure> 
 <figcaption>
 Cover image via <a href="https://u.today/">U.Today</a>
 </figcaption> 
</figure>
Ethereum exchange-traded funds (ETFs) <a href="https://x.com/FarsideUK/status/1816318386596393063">logged</a> more than $133 million worth of outflows on their second day of trading, according to data provided by Farside Investors.
Fidelity's FETH leads the way with $74.5 million worth of inflows. Grayscale's mini ETF comes in second place with $45.9 million.&nbsp;
BlackRock's ETHA recorded a modest $17.4 worth of inflows.&nbsp;
However, these inflows were not sufficient to offset the gargantuan outflows recorded by Grayscale's ETHE, which lost $326 million on Wednesday.&nbsp;
The outflows are expected due to ETHE's huge 2.5% fee.&nbsp;
As reported by U.Today, Ethereum ETFs debuted with <a href="https://u.today/ethereum-etfs-debut-with-very-solid-inflows">"very solid" inflows</a>. However, it seems like these products might be struggling to maintain their momentum.&nbsp;
The price of Ethereum is down as much as 7.3% over the past 24 hours amid the massive sell-off.&nbsp;
The cryptocurrency has suffered from the double-whammy of disappointing ETF flows and the recent US stock market crash. The tech-heavy Nasdaq-100 index slipped by 3.6%. The Tesla stock was down more than 12% after its earnings failed to live up to Wall Street's estimates.&nbsp;
<h2 id="bitcoin-dominance-grows">Bitcoin dominance grows&nbsp;</h2>
In the meantime, Bitcoin dominance has surged to 56%, the highest level in more than a month, despite the hype surrounding the launch of Ether ETFs.
 The ETH/BTC pair is down 6% in just two days, and it is likely to continue underperforming if net outflows persist.&nbsp;&nbsp;
For comparison, Bitcoin ETFs, which were originally launched in early January, saw $44.5 million in net inflows on Wednesday. BlackRock's blockbuster IBIT was in the lead with $60 million in inflows. Grayscale's GBTC recorded $26.2 million worth of outflows.
On their second day of trading, Bitcoin ETFs recorded $200 million worth of inflows despite selling pressure from Grayscale's GBTC.&nbsp;

It's Over: Ethereum ETFs Disappoint Community with Massive Outflows

Tabla de contenidos

U_Today

Otros artículos publicados el 25 jul 2024

Polymarket Trader Has Bet Over $1M On President Biden To Not Finish His Term: Here's How That Is ...

Can Scrat’s Strategic Partnerships Sustain Its Growth During Top Meme Coin Presale in 2024?

Michael Novogratz’s Galaxy Digital Acquires $1B in Ethereum Staking Assets

Koei Tecmo’s Rise of the Ronin demo available now on PlayStation 5

BTC Inc. Announces Xapo Bank as Title Sponsor of The Bitcoin Conference

Dogecoin (DOGE) Historic Pattern Shows Huge Rally, Says Analyst

¡Únete a nuestro boletín gratuito para recibir actualizaciones diarias de criptografía!