Bitcoin (BTC) and Ethereum (ETH) ETFs Flip Flows as the Crypto Market Continues to Struggle

最近、暗号通貨市場は多様なマクロ経済的要因によって引き起こされた激変を経験し、その結果、ほとんどの資産が下降傾向にありました。

最近、暗号通貨市場はさまざまなマクロ経済的要因によって引き起こされた低迷を経験し、ほとんどの資産が下落の勢いにつながっています。ビットコイン (BTC) やイーサリアム (ETH) のような市場の巨人が影響を受けたことで、マイナスの勢いは現物上場投資信託にも広がり、発行体間で一連の清算が発生しました。

Despite the broader market showing signs of recovery, the ETFs continue to struggle with instability.

Bitcoin and Ethereum ETFs Flip Flows

A troubling trend of fluctuating inflows and outflows has plagued the U.S. Bitcoin and Ethereum ETFs over the past week, as they fail to maintain a positive trajectory. According to SosoValue data on Wednesday, August 7, 2024, Ethereum ETFs recorded a net outflow of $27.68 million.

The outflows broke the positive streak the issuers had managed to uphold for two days, which saw a combined $147 million in inflows across the funds. While the latest outflows were primarily concentrated in Grayscale’s ETF ETHE with $31.86 million, only a few of the other issuers managed to clamp minor gains.

On the other hand, Bitcoin ETFs recorded inflows totaling $45.1 million within the same period. As the funds were partially offset by Grayscale’s GBTC with outflows of $30.58 million, BlackRock’s IBIT led the charge strongly with $52.52 million, followed by WisdomTree’s BTCW with $10.50 million. Grayscale’s BTC also recorded approximately $9.71 in inflows, as well as Bitwise’s BITB with a total of $2.99 million. The overall value represents a positive trend for the ETFs, marking the first significant inflows for issuers in a while.

However, Bitcoin critic Peter Schiff anticipates that the negative trend of underperformance will continue.

Schiff Warns of Looming ETF Downturn

In the wake of the recent crypto market crash, traditional economist and anti-crypto activist Peter Schiff resumed his campaign against the industry.

Schiff was particularly critical of Bitcoin and Ether ETFs, questioning their long-term viability. Despite the extent of the market turmoil and its impact on the funds, the crypto critic argued the disruption hasn’t been severe enough to erode investor confidence.

Today's #crypto crash wasn't big enough to shake the confidence of ETF investors. However, their resolve will be tested soon. Capitulation is needed to from a short-term bottom. #Bitcoin breaking below $38K should do the trick. At that price all #BitcoinETFs will hit new lows.

Schiff added that a further decline in assets will likely trigger a downward spiral for the ETFs, emphasizing that investors in these funds often have low conviction and a short-term focus, making them less likely to remain committed when the market becomes turbulent.

On the Flipside

Why This Matters

The performance rollercoaster of Bitcoin and Ethereum ETFs marks a significant deviation from the initial expectations set when they were first launched. Regardless of the negative speculation from Peter Schiff, the funds will need to regain and maintain a positive trajectory to restore investor confidence.

Discover more about how Ethereum ETFs performed before retreating to negatives:Ether ETFs See Second Highest Inflow Day Despite Market Crash

Fugitive ‘Cryptoqueen’ Ignatova is still on the run, and efforts to capture her are intensifying. Find out more here:UK Freezes Ruja Ignatova’s Assets as Global Hunt Heats Up

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