Analysis Crypto by Thebittimes.Com

Spot Ethereum ETFs (exchange-traded funds) recorded $4.9 million inflows yesterday after Grayscale’s Ethereum Trust ended its negative streak and as CoinShares says investors favored ETH funds over BTC investment products in the recent market rebound. Data from SosoValue shows the 9 spot Ethereum ETFs recorded inflows yesterday after suffering negative flows for 3 consecutive days. Meanwhile, Grayscale’s Ethereum Trust (ETHE) logged zero flows for the first time since its conversion into an ETF, bringing an end to 14 days of outflows. VanEck’s Fund is the Only One Among the Spot Ethereum ETFs to Record Outflows VanEck’s ETHV was the only spot Ethereum ETF to experience negative flows on Aug. 12. ETHV recorded outflows for the first time since July 23 after $2.92 million left its reserves. During the same period, Fidelity’s FETH posted $3.98 million in net inflows, while Franklin’s EZET saw approximately $1.01 million in inflows yesterday. Bitw...

Investment crypto products’ outflows amounted to $21 million last week. According to a CoinShares report, outflows from investment products into digital assets were modest at $21 million last week. However, this figure masks very high Bitcoin (BTC) trading volumes last week, totaling $11.8 billion, seven times the average weekly trading volume in 2023. Source: CoinShares Geographically, capital inflows into the United States totaled $263 million, while Canada and Europe saw outflows of $297 million. Analysts suggest that such trends are explained by the migration of assets to the United States. Bitcoin product outflow s were minor, totaling $25 million, although trading volumes of $11.8 billion represented 63% of all BTC volumes on trusted exchanges. Ethereum (ETH) and Solana (SOL)-based product s saw outflow s of $14 million and $8.5 million, respectively. Analysts note that ETP activity is currently dominating overall trading activity. Incumbent issuers with higher co...