Bitcoin Spot ETFs See Muted Inflows As Negative Funding Rates Signal Bearish Sentiment
Portfolio Pulse from Murtuza Merchant
Bitcoin spot ETFs saw modest inflows of $11.1 million on Aug. 15, while Grayscale Bitcoin Trust experienced $25 million in outflows. Fidelity's Bitcoin ETF attracted $16.2 million, and Grayscale's mini Bitcoin ETF saw $13.6 million in inflows. Ethereum spot ETFs faced net outflows of $39.2 million, with Grayscale Ethereum Trust seeing $42.5 million in outflows. Negative funding rates in Bitcoin futures signal bearish sentiment.
August 16, 2024 | 12:18 pm
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NEGATIVE IMPACT
Grayscale Ethereum Trust experienced significant outflows of $42.5 million, indicating bearish sentiment among Ethereum investors.
The substantial outflows from ETHE suggest that investors are reducing their exposure to Ethereum, likely due to negative market sentiment.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Grayscale Bitcoin Trust saw outflows of $25 million, indicating bearish sentiment among investors.
The significant outflows from GBTC suggest that investors are pulling back from Bitcoin exposure, likely due to negative funding rates and bearish market sentiment.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Fidelity's Bitcoin ETF attracted $16.2 million in inflows, showing some investor confidence despite overall bearish sentiment.
Despite the overall bearish sentiment, the inflows into FBTC suggest that some investors are still confident in Bitcoin's long-term potential.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Fidelity's Ethereum ETF saw modest inflows of $2.5 million, providing a small positive note amid overall bearish sentiment.
The modest inflows into FETH suggest that some investors still see potential in Ethereum despite the broader bearish sentiment.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 80