Bitcoin

Ethereum

<p>On July 23, US exchange-traded funds (ETFs) experienced significant changes in investments for <a href="https://blockchainreporter.net/price-prediction/bitcoin-price-prediction/" rel="noopener noreferrer nofollow">Bitcoin (BTC)</a> and Ethereum (ETH). According to SpotOnChain, Bitcoin ETFs saw a net outflow of $78 million. It marked the first negative net flow in the past 13 trading days. Among the Bitcoin ETFs, only BlackRock’s IBIT fund recorded an inflow yesterday.</p><h2 id="header-0">BlackRock and Bitwise Ethereum ETFs Break $200M Inflows</h2><p>On the other hand, the Ethereum asset saw a net inflow of $107 million for Ethereum ETFs on the very first trading day. Notably, about 5.3% of the Ethereum held by Grayscale’s ETHE fund left on the first trading day.</p><p>In addition, BlackRock’s ETHA and Bitwise’s ETHW ETFs saw inflows breaking the $200 million mark. These movements demonstrate numerous fluctuations in cryptocurrency investment via ETFs and differences in investor intentions and actions within the market.</p><h2 id="header-1">Bitcoin ETFs Face Outflows as Ethereum Inflows Increase</h2><p>The direction of the performance of the ETFs in Bitcoin and Ethereum signifies the changing trends in investors’ choices. However, there was an overall trend of outflow from Bitcoin that could be due to a temporary lack of confidence or profit taking.</p><p>In contrast, Ethereum has steady inflows that point to increasing demand and positivity toward the cryptocurrency. That only BlackRock’s Bitcoin ETF experienced inflows while the rest of the industry seemed to be experiencing outflows shows that BlackRock is in a very different position. Ultimately, the <a href="https://spotonchain.com/" rel="noopener noreferrer nofollow">SpotOnChain</a> data highlights that these trends are important in analyzing the market direction and investors’ behavior in the crypto sphere.</p>

Bitcoin ETFs Outflow $78M, Ethereum ETFs Inflow $107M on July 23

Table of Contents

BlockchainReporter

Alte articole publicate pe 24 iul. 2024

Matrixport Highlights Key Trend in Bitcoin Mining

Fold Prepares for Public Offering with SPAC Merger

Experts Are Tipping Newer Altcoins Like Rollblock For 100x Gains Over Cardano (ADA) and Shiba Inu...

Klasha appoints Justin Fan as Managing Director, Asia Operations to lead its expansion into Asia

BingX Launchpool Unveils MATR1X (MAX): Where Web3, AI, and eSports Converge for Cultural Innovation

Gate.io Announces Withdrawal From Japanese Crypto Market

Join our free newsletter for daily crypto updates!