Bitcoin, Ethereum ETFs See Over $50M Net Outflows Despite Fed's 50 Bps Rate Cut
Portfolio Pulse from Murtuza Merchant
Bitcoin and Ethereum ETFs experienced over $50 million in net outflows despite the Federal Reserve's 50 basis point rate cut. Grayscale's Bitcoin and Ethereum ETFs saw significant outflows, while BlackRock's Ethereum ETF had a net inflow. The Fed's decision led to increased optimism in the markets, with Bitcoin and Ethereum prices rising.
September 19, 2024 | 12:20 pm
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NEGATIVE IMPACT
Grayscale's Ethereum ETF saw a net outflow of $14.6629 million, reflecting a negative investor sentiment despite the Fed's rate cut.
The outflow from Grayscale's Ethereum ETF indicates a bearish sentiment among investors, even as the Fed's rate cut typically encourages investment in riskier assets.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
Grayscale's Bitcoin ETF experienced a net outflow of $8.1347 million despite the Fed's rate cut, indicating a shift in investor sentiment.
The significant outflow from Grayscale's Bitcoin ETF suggests a negative short-term sentiment towards this asset, despite the Fed's rate cut which typically boosts riskier assets like cryptocurrencies.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
BlackRock's Ethereum ETF recorded a net inflow of $4.9249 million, contrasting with the overall outflow trend in crypto ETFs.
The net inflow into BlackRock's Ethereum ETF suggests a positive sentiment and potential short-term price increase, contrasting with the outflows seen in other crypto ETFs.
CONFIDENCE 85
IMPORTANCE 60
RELEVANCE 70