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Only Inflows for Bitcoin but Ethereum Products Register Longest Outflow Streak
The post Only Inflows for Bitcoin but Ethereum Products Register Longest Outflow Streak appeared on BitcoinEthereumNews.com. Bitcoin ETFs have been on an impressive streak lately, and the last trading week saw more than $500 million allocated to the largest US-based products. However, Ethereum ETFs are in the opposite corner, with minor trading volumes and withdrawals. Bitcoin ETFs on a Roll The spot Bitcoin ETFs had a rough start of the month as they lost more than $550 million in just three days on August 2, 5, and 6. This coincided with the major crash for BTC as the asset tumbled from over $65,000 to under $50,000 in just a few days. However, both the inflows and the cryptocurrency’s price started to recover in the following weeks. In fact, there have been only two days since then when investors have pulled out funds from the US-based spot ETFs – on August 9 and 14. The past week was quite impressive for the financial vehicles as they attracted in total $62.1 million on Monday, $88 million on Tuesday, $39.5 million on Wednesday, $64.8 million on Thursday, and whopping $252 million on Friday. Overall, $506.4 million entered the ETFs in the span of five trading days. As usual, BlackRock’s IBIT was at the forefront on most days, gaining $92.7 million on Monday and $86.8 million on Friday. In contrast, Grayscale’s GBTC continues its outflow streak with $12.8 million leaving on Tuesday, $9.8 million on Wednesday, $28.4 million on Thursday, and $35.6 million on Friday. According to FarSide, BlackRock’s Bitcoin ETF now holds more than $20.7 billion, while Grayscale’s ETF trails by nearly $1 billion. Ethereum ETFs in the Red It has been three weeks since the spot Ethereum ETFs launched in the States, but the experience has been entirely different compared to their Bitcoin counterparts. In fact, the ETH-based products have been on a seven-day withdrawal streak even though…
The post Only Inflows for Bitcoin but Ethereum Products Register Longest Outflow Streak appeared on BitcoinEthereumNews.com.
Bitcoin ETFs have been on an impressive streak lately, and the last trading week saw more than $500 million allocated to the largest US-based products. However, Ethereum ETFs are in the opposite corner, with minor trading volumes and withdrawals. Bitcoin ETFs on a Roll The spot Bitcoin ETFs had a rough start of the month as they lost more than $550 million in just three days on August 2, 5, and 6. This coincided with the major crash for BTC as the asset tumbled from over $65,000 to under $50,000 in just a few days. However, both the inflows and the cryptocurrency’s price started to recover in the following weeks. In fact, there have been only two days since then when investors have pulled out funds from the US-based spot ETFs – on August 9 and 14. The past week was quite impressive for the financial vehicles as they attracted in total $62.1 million on Monday, $88 million on Tuesday, $39.5 million on Wednesday, $64.8 million on Thursday, and whopping $252 million on Friday. Overall, $506.4 million entered the ETFs in the span of five trading days. As usual, BlackRock’s IBIT was at the forefront on most days, gaining $92.7 million on Monday and $86.8 million on Friday. In contrast, Grayscale’s GBTC continues its outflow streak with $12.8 million leaving on Tuesday, $9.8 million on Wednesday, $28.4 million on Thursday, and $35.6 million on Friday. According to FarSide, BlackRock’s Bitcoin ETF now holds more than $20.7 billion, while Grayscale’s ETF trails by nearly $1 billion. Ethereum ETFs in the Red It has been three weeks since the spot Ethereum ETFs launched in the States, but the experience has been entirely different compared to their Bitcoin counterparts. In fact, the ETH-based products have been on a seven-day withdrawal streak even though…
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