What Is Going On With Bitcoin, Ethereum ETFs Ahead Of The FOMC Meeting?
Portfolio Pulse from Murtuza Merchant
Bitcoin and Ethereum ETFs are experiencing mixed fund flows ahead of the FOMC meeting. Grayscale's Bitcoin and Ethereum ETFs saw significant outflows, while BlackRock's ETFs attracted substantial inflows. The total net asset value of Bitcoin spot ETFs remains strong at $58.5 billion.
July 31, 2024 | 11:20 am
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NEGATIVE IMPACT
Grayscale's Ethereum ETF saw a significant outflow of $120 million, continuing its trend of fund outflows.
The continued outflow from Grayscale's Ethereum ETF indicates a bearish sentiment among investors, which could negatively impact the ETF's short-term price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 90
NEGATIVE IMPACT
Grayscale's Bitcoin ETF experienced a significant outflow of $73.6 million, contributing to the overall net outflow in Bitcoin spot ETFs.
The substantial outflow from Grayscale's Bitcoin ETF indicates a bearish sentiment among investors, which could negatively impact the ETF's short-term price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 90
POSITIVE IMPACT
BlackRock's Ethereum ETF attracted a significant inflow of $118 million, indicating strong investor interest.
The significant inflow into BlackRock's Ethereum ETF suggests a bullish sentiment among investors, which could positively impact the ETF's short-term price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 90
POSITIVE IMPACT
BlackRock's Bitcoin ETF attracted a substantial inflow of $74.8 million, indicating strong investor interest.
The significant inflow into BlackRock's Bitcoin ETF suggests a bullish sentiment among investors, which could positively impact the ETF's short-term price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 90