Bitcoin ETFs Experience Significant Outflows Amid Market Shifts, While Ether ETF Inflows Pause
Main Idea
Bitcoin and Ether ETFs experienced significant outflows on August 1, with Bitcoin ETFs seeing $812 million in redemptions and Ether ETFs ending a 20-day inflow streak with $152 million in losses, reflecting shifts in crypto investment trends.
Key Points
1. Spot Bitcoin ETFs recorded $812.25 million in net outflows on August 1, led by Fidelity’s FBTC ($331.42 million) and ARK Invest’s ARKB ($327.93 million).
2. Ether ETFs ended a 20-day inflow streak with $152.26 million in outflows, led by Grayscale’s ETHE ($47.68 million) and Bitwise’s ETHW ($40.30 million).
3. Bitcoin ETF trading activity remained robust with $6.13 billion exchanged, while Ether ETF trading volume totaled $2.26 billion.
4. Corporate demand for Ether has grown, with crypto treasury firms accumulating approximately 1% of Ethereum’s circulating supply since June.
5. The outflows in Bitcoin ETFs were attributed to profit-taking and market volatility, while Ether ETF outflows followed a period of record inflows earlier in July.
Description
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