In the last 24 hours, Grayscale’s Ethereum Trust ($ETHE) experienced a significant outflow of $484 million. While this is a substantial withdrawal, the smaller Ethereum mini trust ($ETH) managed to take in $15 million. Despite this inflow, the total outflow for Grayscale’s Ethereum-related trusts stands at $244 million.
The significant outflow from Grayscale’s $ETHE suggests that some investors might be reallocating their portfolios or taking profits. However, the positive inflow in the smaller $ETH trust indicates sustained interest in Ethereum, albeit on a smaller scale.
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In the US, Ethereum spot ETF products have seen notable inflows, indicating growing investor interest. Specific figures on these inflows highlight the rising enthusiasm for Ethereum investment products.
It is worth it to note that on the first day of ETHness stakes saw nearly $1.1 billion in volume. Predictions for the day’s inflows range from $125 million to $325 million, depending on investor interest, with official figures expected soon.
The inflows into Ethereum spot ETF applications demonstrate a growing confidence in Ethereum as a long-term investment. This is an encouraging sign for the Ethereum market, as it suggests that institutional and retail investors are looking for regulated ways to gain exposure to Ethereum.
Bitcoin Spot ETF Market Shows Strong Inflows
The Bitcoin spot ETF market is witnessing a surge in inflows, reflecting increased investor confidence and interest. Key highlights include:
– On July 22, Bitcoin spot ETFs had a total net inflow of $486 million.
– This trend of net inflows continued for 12 consecutive days.
– BlackRock’s ETF, IBIT, reported a single-day net inflow of $527 million.
– Fidelity’s ETF, FBTC, saw a single-day net inflow of $23.7227 million.
– The total net asset value of Bitcoin spot ETFs has reached an impressive $62.115 billion.
The continued net inflows into Bitcoin spot ETFs, particularly the substantial figures reported by BlackRock and Fidelity, highlight a robust demand for Bitcoin (BTC) investment products. The consistent inflow over 12 days shows a sustained interest, reinforcing Bitcoin’s position as a leading cryptocurrency investment. The impressive total net asset value of $62.115 billion underscores the significant capital being allocated to the Bitcoin market through these traditional investment vehicles.
Read also: American Senator Cynthia Lummis Criticises President Biden’s Bitcoin Mining Tax
Massive Outflows Hit Grayscale’s $ETHE Amid Growing Interest in Ethereum & Bitcoin Spot ETFs
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