Ethereum

Bitcoin

<p>U.S.-based Ethereum ETFs are facing their longest series of capital outflows since their launch. This situation raises questions about their future in an increasingly competitive crypto market.</p> 
<h2 id="h-une-vague-de-flux-sortant-sans-precedent-pour-ces-etf-crypto">An unprecedented wave of outflows for these crypto ETFs</h2> 
<p>Since their launch on July 23, the <a href="https://www.cointribune.com/en/crypto-ethereum-etf-a-massive-outflow-of-39-million/" target="_blank" rel="noreferrer noopener">spot Ethereum ETFs have been facing dark days</a>, marked by an unprecedented wave of withdrawals. Between August 15 and 21, these crypto funds suffered a series of consecutive outflows over five days. This is a first since they entered the market. The <a href="https://coinpaper.com/5207/spot-ether-et-fs-see-longest-outflow-streak-since-launch" target="_blank" rel="noreferrer noopener">cumulative losses reached alarming levels</a>, totaling $92.2 million.</p>
<div class="my-4">
 <div class="ads " data-page-type="" data-location="1"> 
 </div> 
</div> 
<p>This capital flight is mainly due to significant withdrawals from the Grayscale Ethereum Trust (ETHE), which recorded outflows of $2.5 billion over the same period. These withdrawals surpassed capital inflows into other crypto ETFs, such as the BlackRock’s iShares Ethereum Trust ETF (ETHA) and the Fidelity Ethereum Fund (FETH).</p> 
<p>Indeed, the ETHA saw a remarkable performance by attracting net inflows of $1 billion on August 20, offering a positive sign in a tense market. However, the overall situation of spot Ethereum ETFs remains worrying, highlighting the persistent challenges these crypto funds face.</p> 
<div class="affiliate-button"> <a class="affiliate-button__link" href="https://bitvavo.com/fr/affiliate/coinmedia?a=_cta" target="_blank" rel="noreferrer noopener">€20 bonus for registering on Bitvavo</a> <a class="affiliate-button__disclaimer" href="https://www.cointribune.com/en/sponsored-content/" target="_blank" rel="noreferrer noopener">This link uses an affiliate program.</a> 
</div> 
<h2 id="h-contraste-avec-les-etf-bitcoin">Contrast with Bitcoin ETFs</h2> 
<p>In contrast to Ether ETFs, Bitcoin ETFs show remarkable resilience with positive net inflows totaling $17.5 billion since January. On August 20, for example, these crypto ETFs recorded $88 million in inflows. BlackRock’s iShares Bitcoin Trust dominated this trend, attracting $55.4 million alone.</p> 
<p>While these funds continue to receive support, Ethereum ETFs are struggling, highlighting the specific challenges faced by ether (ETH). This divergence underscores a lack of investor confidence in ETH-related products. However, Vitalik Buterin, co-founder of Ethereum, recently issued an optimistic tweet that could influence market perception.</p> 
<p>He notably posted an image of a bull holding a sign proclaiming “Ethereum is good.” In addition to this image, he proposed the idea of adding a third layer to Ethereum’s architecture. This would enhance the importance of applications developed on the blockchain. This communication marks an attempt to revive confidence in ether by highlighting its fundamental strengths and developments.</p> 
<p>In short, the record series of outflows from Ethereum ETFs highlights the significant challenges ether faces. Despite this difficult period, <a href="https://www.cointribune.com/en/crypto-vitalik-buterin-his-bold-strategy-unveiled/" target="_blank" rel="noreferrer noopener">Vitalik Buterin’s recent initiative</a> could revitalize confidence and offer new opportunities for the future of the crypto asset.</p>

Crypto: Ethereum ETFs are experiencing a record series of outflows!

Table of Contents

Cointribune EN

Other articles published on Aug 23, 2024

POPCAT Soars as Binance Launches New Perpetual Contracts

Binance to Hire 1,000 Employees Amid Compliance Expansion

Bitcoin Surges as Fed Chair Promises Rate Cuts in September

Sun Token Price Surges 176% After Justin Sun’s X Post

Charles Hoskinson Reveals Cardano’s “Hidden Superpowers” Amid Bullish ADA On-Chain Metrics

KUNA founder: Ukraine’s central bank ‘killed’ local crypto market

Join our free newsletter for daily crypto updates!