In a recent update, Lookonchain shared that the crypto market has witnessed significant activity in Ethereum and Bitcoin ETFs. Data reveals that Bitcoin ETFs have experienced an outflow of 4,255 $BTC worth $254.17 million. While on the other hand, Ethereum ETFs have shown a slight inflow of 2,533 $ETH worth $6.77 million. Lookonchain, an analytical firm shared the stats on its X official account.
Aug 9 Update:
10 #Bitcoin ETFs
NetFlow: -4,255 $BTC(-$254.17M)🔴#Grayscale(GBTC) outflows 3,090 $BTC($184.56M) and currently holds 233,840 $BTC($13.97B).9 #Ethereum ETFs
NetFlow: +2,533 $ETH(+$6.77M)🟢#iShares inflows 7,576 $ETH($20.25M) and currently holds 293,939… pic.twitter.com/xGXKwRLsY8— Lookonchain (@lookonchain) August 12, 2024
Statistical Analysis of Bitcoin and Ethereum ETFs NetFlow
On the 9th of August, Bitcoin Exchange Traded Funds (ETFs) experienced a substantial outflow of 4,255 $BTC worth of $254.17 million. Grayscale is the prominent figure that faced the outflow of 3,090 $BTC leaving itself with a total holding of 233,840 Bitcoins worth $13.97 billion.
On the other hand, Ethereum ETFs see an inflow of 6.77 million worth 2,533 $ETH. iShares, the leading icon in the world of exchange-traded funds (ETFs), led the way with an impressive inflow of 7,576 ETH worth $20.25 million. After sight inflow, iShare’s total Ethereum ETF holdings are 293,939 ETH worth $785.7 billion.
How Crypto Market Sees Bitcoin ETFs’ Outflow and Ethereum ETF’s Inflow?
This contrast between Bitcoin and Ethereum ETFs is might be indicating a shift in investor sentiment. Some investors are possibly moving from Bitcoin and Ethereum. However, as we know the crypto market is highly volatile, and these movements can be short-term in nature. And, in the coming time table can be turned as this data was shared by Lookonchain and this trend might change in the coming time.
