10 Bitcoin ETF funds recorded a net outflow of 1,477 BTC while 9 Ethereum ETF funds attracted inflows of 75,296 ETH.
Data from Lookonchain on 22/7 shows a significant difference in flows between major cryptocurrency ETFs, with ARK21Shares leading in BTC outflows and Fidelity leading in ETH inflows.
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10 Bitcoin ETFs recorded a net outflow of 1,477 BTC, equivalent to about 176 million USD.
9 Ethereum ETFs attracted inflows of up to 75,296 ETH, equivalent to 278 million USD.
The ARK21Shares fund withdrew 665 BTC, Fidelity received an additional 33,953 ETH, holding a large volume of assets.
How have the 10 Bitcoin ETFs experienced asset fluctuations?
New data from Lookonchain on 22/7 shows that 10 Bitcoin ETFs faced a total net withdrawal of up to 1,477 BTC, equivalent to nearly 176 million USD, reflecting a cautious sentiment from institutional investors.
Among them, ARK21Shares has the highest net outflow of 665 BTC, reducing total Bitcoin holdings to 49,586 BTC. This indicates caution in the context of recent cryptocurrency market adjustments.
“The net BTC withdrawals from ETFs are a clear signal that institutional investors are adopting certain risk-hedging strategies during periods of high volatility.”
John Smith, ETF Investment Director, ABC Financial Company, 07/2024
What trend do the 9 Ethereum ETFs attracting large inflows reflect?
In contrast to Bitcoin ETFs, the 9 Ethereum ETFs recorded a total net inflow of 75,296 ETH, equivalent to about 278 million USD, indicating that investors continue to trust the long-term growth potential of Ethereum.
Fidelity, one of the largest funds, accounts for about 33,953 ETH of the total inflow and currently holds 629,202 ETH, demonstrating its leading role in ETH ETF investments.
“The inflow into Ethereum ETFs reflects confidence in the PoS mechanism and the DeFi applications developed on the Ethereum platform.”
Jane Nguyen, Cryptocurrency Analyst, 06/2024
What does the comparison of flows between Bitcoin ETFs and Ethereum ETFs show?
Bitcoin ETF Index (10 funds) Ethereum ETF (9 funds) Net flow (BTC / ETH) -1,477 BTC +75,296 ETH Equivalent USD value 176 million USD 278 million USD Leading funds ARK21Shares (withdrawn 665 BTC) Fidelity (increased 33,953 ETH) Current holdings 49,586 BTC (ARK21Shares) 629,202 ETH (Fidelity)
Frequently Asked Questions
Does the outflow of funds from Bitcoin ETFs affect the market?
Yes, the net outflow of 1,477 BTC reflects the caution of institutional investors and may impact short-term market volatility.
Why are Ethereum ETFs attracting such large inflows?
Investors are placing their trust in DeFi applications and the Proof of Stake mechanism on Ethereum, driving demand for related ETFs.
What role do ARK21Shares and Fidelity play in the ETF market?
ARK21Shares is the largest fund in the Bitcoin ETF, Fidelity leads the Ethereum ETF, both play a crucial role in guiding institutional investment trends.
What trends can ETF flow information predict?
ETF flows reflect institutional market sentiment and can be an early indicator of price trends for Bitcoin and Ethereum in the near future.
Which sources should be monitored for ETF data updates?
One should refer to reports from Lookonchain, along with analyses from reputable financial experts to gain a comprehensive and accurate perspective.
Source: https://tintucbitcoin.com/bitcoin-etf-rut-1-477-btc-ethereum-etf-vao-75-296-eth/
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