On August 6, Bitcoin ETF recorded strong outflows, while Ethereum ETF welcomed significant inflows.
Reports from Lookonchain indicate that Bitcoin ETFs exited 1,821 BTC, while Ethereum ETF increased by 15,494 ETH with a notable rise in Blackrock's iShares fund.
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Bitcoin ETF recorded net outflows of over 1,800 BTC, mainly from Fidelity.
Ethereum ETF increased by more than 15,000 ETH, with iShares leading the inflow.
ETF trading reflects the differing trends between the two major cryptocurrencies.
What fluctuations did the Bitcoin ETF experience on August 6?
Based on the August 6 report from Lookonchain, the total net outflow of Bitcoin from 10 ETF funds reached 1,821 BTC, equivalent to about 208 million USD. Fidelity contributed the majority with a withdrawal of 872 BTC, reducing its holdings to 201,220 BTC, equivalent to 22.99 billion USD.
This move reflects a temporary trend of investors withdrawing capital from Bitcoin through the ETF channel, possibly due to market volatility or changes in short-term investment strategies.
Net withdrawals from the Bitcoin ETF fund signal cautious investment, indicating capital adjustment moves amid strong volatility in the cryptocurrency market.
Cryptocurrency Financial Expert, 2024
How is the Ethereum ETF performing on this day?
In contrast to Bitcoin ETF, Ethereum ETF funds saw a net inflow of up to 15,494 ETH, equivalent to 55.93 million USD. Notably, iShares (Blackrock) added 24,812 ETH, increasing its holdings to 2.95 million ETH, equivalent to 1.066 billion USD.
This data shows the increasing trust in Ethereum from the ETF investment channel, reinforcing its position in the portfolios of large investors.
Ethereum ETF continues to attract positive cash flow, demonstrating its popularity and the belief in the long-term growth potential of the Ethereum ecosystem.
ETF Investment Expert, 2024
Why do Bitcoin ETF and Ethereum cash flows exhibit opposing trends?
The disparity between Bitcoin and Ethereum ETFs may stem from the differing nature of the two coins as well as the diverse investment strategies of fund managers. Bitcoin is often viewed as a safe-haven asset, while Ethereum is highly valued for its Smart Contract application development potential.
At this time, investors can flexibly switch between different ETFs, taking advantage of Ethereum's strong growth while reducing the risk of holding Bitcoin during market volatility.
How much cryptocurrency do large ETFs hold?
Cryptocurrency ETF Funds Holdings Estimated Value (USD) Fidelity Bitcoin 201,220 BTC 22.99 billion USD iShares (Blackrock) Ethereum 2,951,895 ETH 1.066 billion USD
Frequently Asked Questions
What is a Bitcoin ETF?
Bitcoin ETF is an exchange-traded fund that simulates Bitcoin price fluctuations, allowing investors to access the market without directly owning the coin.
What are the differences between Ethereum ETF and Bitcoin ETF?
Ethereum ETF focuses on ETH tokens and Smart Contract applications, often exhibiting volatility and distinct growth potential compared to Bitcoin ETF.
Why are investors withdrawing money from Bitcoin ETF?
Investors may withdraw funds due to price volatility, changes in investment strategies, or seeking profit opportunities from more promising assets.
How does the inflow into ETFs affect the cryptocurrency market?
ETF cash flows reflect investor confidence and impact the asset value as well as the attractiveness of cryptocurrencies in the market.
How to track ETF cryptocurrency buying and selling?
Investors can track through in-depth reports from Lookonchain or reputable cryptocurrency market data analysis platforms.
Source: https://tintucbitcoin.com/bitcoin-etf-rut-1-821-btc-ethereum-vao-15-494-eth/
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