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COINTURK NEWS > Cryptocurrency News > Investors React to Ethereum and Bitcoin ETF Movements
Cryptocurrency News

Investors React to Ethereum and Bitcoin ETF Movements

In Brief

  • Spot Ethereum ETFs ended a positive streak with a $39 million outflow.

  • Grayscale ETHE faced a $42 million outflow, continuing its recent trend.

  • Fidelity and BlackRock's funds attracted investors despite market fluctuations.

COINTURK NEWS
COINTURK NEWS 9 months ago
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Positive flows in Spot Ethereum ETFs over the past three days ended with a $39 million net outflow on Thursday. This development sparked curiosity and concern among investors. In these volatile times in the investment world, sudden outflows and fluctuations cause investors to reassess their strategies.

Contents
Grayscale ETHE’s Ongoing Outflow SeriesFidelity and BlackRock Continue to Attract InvestorsBitcoin ETFs See a Calm but Positive Day

Grayscale ETHE’s Ongoing Outflow Series

Grayscale Ethereum Trust (ETHE), which holds a significant place in the cryptocurrency market, faced an outflow of over $42 million on Thursday. This indicates the continuation of the fund’s recent outflow series.

Grayscale’s fund was the only spot Ethereum ETF to report a net outflow during the day. On the other hand, Grayscale Ethereum Mini Trust (ETH) showed no movement on Thursday after a modest $2 million inflow the previous day.

Fidelity and BlackRock Continue to Attract Investors

Fidelity’s FETH fund, one of the market’s major players, reported a net inflow of $2.5 million, while approximately $770,000 was transferred to BlackRock‘s ETHA fund. These funds continue to attract investor interest despite market fluctuations.

On Thursday, the total trading volume of nine spot Ethereum ETFs exceeded $240 million, up from $155 million on Wednesday.

Bitcoin ETFs See a Calm but Positive Day

In contrast to the fluctuations in Ethereum, spot Bitcoin ETFs experienced a slight positive flow on Thursday. Twelve different spot Bitcoin ETFs reported a total net inflow of over $11 million. Although this figure was relatively low compared to the $81 million outflow the previous day, it was still considered a positive development.

Fidelity’s FBTC fund saw the largest inflow of the day with a $16 million increase. Grayscale Mini Trust recorded a net inflow of over $13 million. The daily total trading volume stood out at $1.79 billion.

Cryptocurrency market trends between Ethereum and Bitcoin ETFs require investors to reassess their preferences and the general dynamics of the market. Significant outflows in Ethereum and modest inflows in Bitcoin could play a crucial role in the strategic decisions of market players.

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Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.

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COINTURK NEWS 16 August, 2024 - 8:24 am 16 August, 2024 - 8:24 am
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