Bitcoin ETF outflows rise: Could ETH ETFs be the next safe bet?

Despite Bitcoin ETF outflows and mixed Ethereum ETF performance, prices rise slightly amid ongoing market caution.

ETF market has recently shifted into bearish territory, as evidenced by a series of outflows spanning from the 26th to the 30th of August.Notably, ARK Invest and 21Shares’ ARKB experienced significant withdrawals totaling $220 million, while Grayscale’s GBTC faced a surge in outflows amounting to $119 million.

Even BlackRock’s IBIT, which had previously seen positive inflows, reported zero flows on three out of four days, with flows stagnating at $13.5 million on 29th August.“I don’t see Bitcoin disappearing anytime soon, especially with the solid support it has right now.” Here he highlighted how the introduction of BTC ETFs has strengthened Bitcoin’s standing in the financial industry.“Still, as the market changes and new technologies arise, Bitcoin might eventually lose some of its appeal in the long run.”However, BlackRock’s ETHA and Grayscale’s Mini Ethereum Trust reported positive momentum, with inflows of $8.4 million and $3.57 million, respectively, suggesting a cautious yet optimistic outlook for Ethereum in the ETF market.

AMBCrypto’s analysis of the two tokens indicates that, although prices are rising, the Relative Strength Index for both cryptocurrencies remains below the neutral level.This suggests that the market sentiment is still cautious and may take time to shift towards a more bullish outlook.Ishika is a graduate of Political Science from the University of Delhi. From writing content as a hobby to now pursuing it as a professional career, she has been living and breathing content all her life.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

CryptoAmb /  🏆 22. in CA

Canada Latest News, Canada Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Grayscale’s ETH ETF struggles with outflows, dragging Ethereum’s priceEthereum ETFs faced $6.5M outflow as of 20th August, with Grayscale’s ETHE leading the decline. Will this impact ETH?
Read more »

Ethereum struggles amid ETH ETF outflows and rising supplyWeak demand for spot Ethereum ETFs and falling network usage has weighed down on ETH price amid rising supply.
Read more »

Franklin Templeton seeks SEC’s nod for BTC, ETH Crypto Index ETFThe $1.5 trillion asset manger Franklin Templeton is the latest player seeking to launch a crypto index ETF (exchange-traded fund)...
Read more »

Ethereum [ETH] ETF inflows recover: What’s driving the surge?As ETH approaches $3K after days of struggling within a tight range, why is Grayscale’s ETHE failing to capitalize on the ETF resurgence?
Read more »

Solana ETF filings run into trouble: ‘This is why there won’t be a SOL ETF’The SEC has turned down Cboe BZX’s Solana ETF applications, resulting in their disappearance from the site.
Read more »

How BlackRock’s Bitcoin ETF surged amid a BTC price dropDespite a general downturn in the cryptocurrency market, the BlackRock Bitcoin ETF saw record trading volumes.
Read more »