Bitcoin, Ethereum ETF Weekly Recap: Substantial Outflows Amid Pessimistic US Economy Outlook
==========
The second week of trading for spot Ethereum ETFs saw more withdrawals than inflows, driven by uncertainty in the US economy. Spot Bitcoin ETFs also experienced outflows, with nearly $240 million leaving the financial vehicles. Fidelity's FBTC had the biggest daily outflows, with over $104 million withdrawn. Ark Invest's ARKB and Grayscale's GBTC also saw significant outflows. BlackRock's IBIT was the only ETF with inflows. Grayscale's ETHE led the spot Ethereum ETFs in outflows. Weak job report in the US and rising unemployment rates contributed to the negative market sentiment. BTC and altcoins experienced price plunges. Wall Street and the crypto market both saw declines. The weak economic data affected riskier assets. The Federal Reserve is expected to cut interest rates in September.
#BitcoinEtf #EthereumEtf #UnitedStates
https://cryptopotato.com/bitcoin-ethereum-etf-weekly-recap-substantial-outflows-amid-pessimistic-us-economy-outlook/
CryptoPotato /
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2024-08-03 08:11:00
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wss://relay.damus.ioPublished at
2024-08-03 08:11:00Event JSON
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"content": "Bitcoin, Ethereum ETF Weekly Recap: Substantial Outflows Amid Pessimistic US Economy Outlook\n==========\n\nThe second week of trading for spot Ethereum ETFs saw more withdrawals than inflows, driven by uncertainty in the US economy. Spot Bitcoin ETFs also experienced outflows, with nearly $240 million leaving the financial vehicles. Fidelity's FBTC had the biggest daily outflows, with over $104 million withdrawn. Ark Invest's ARKB and Grayscale's GBTC also saw significant outflows. BlackRock's IBIT was the only ETF with inflows. Grayscale's ETHE led the spot Ethereum ETFs in outflows. Weak job report in the US and rising unemployment rates contributed to the negative market sentiment. BTC and altcoins experienced price plunges. Wall Street and the crypto market both saw declines. The weak economic data affected riskier assets. The Federal Reserve is expected to cut interest rates in September. \n\n#BitcoinEtf #EthereumEtf #UnitedStates\n\nhttps://cryptopotato.com/bitcoin-ethereum-etf-weekly-recap-substantial-outflows-amid-pessimistic-us-economy-outlook/",
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