Bitcoin’s $404 mln outflows vs. Ethereum’s 15-week inflow streak: What’s going on?
The post Bitcoin’s $404 mln outflows vs. Ethereum’s 15-week inflow streak: What’s going on? appeared on BitcoinEthereumNews.com. Key Takeaways Digital assets saw $223 million in outflows, ending a 14-week streak. Bitcoin bore the brunt, while Ethereum continued to attract inflows. Digital asset investment products recorded $223 million in net outflows during the week ending the 2nd of August, the first pullback after 14 straight weeks of inflows. Source: CoinShares The week began strong with $883 million in inflows, but investor sentiment shifted quickly as the total crypto market cap fell 9.48%, erasing approximately $370 billion. The trigger? A hawkish U.S. Federal Reserve tone. Hawkish U.S. policy sparks investor sell-off The sell-off was triggered by U.S. investors reacting to a hawkish Federal Open Market Committee (FOMC) report, which stated that, “Inflation remains somewhat elevated.” Following the report, U.S. investors offloaded $383 million worth of digital asset products, pushing the month-to-date outflow to $974 million, just shy of the $1 billion mark. Investors from Germany, Sweden, and Brazil also contributed to the sell-off, collectively dumping $81 million worth of crypto products. Source: CoinShares Bitcoin [BTC] accounted for the bulk of outflows, recording $404 million in net losses, almost halving its month-to-date outflow of $844 million. Sui [SUI] and Litecoin [LTC] saw relatively minor outflows of just $1 million each. Ethereum [ETH], on the other hand, remained an outlier. It recorded its 15th consecutive week of inflows, adding $133.9 million, suggesting a shift in investor preference toward Ethereum over Bitcoin. Meanwhile, investor interest in Solana [SOL], Ripple [XRP], and Cardano [ADA] added another $41 million in cumulative inflows. BlackRock defies trend with aggressive accumulation While most institutional investors exited their Bitcoin and Ethereum exchange-traded fund (ETF) positions, BlackRock took the opposite approach. The firm’s spot Bitcoin and Ethereum iShares ETFs recorded inflows of $355.3 million and $394.2 million, respectively, suggesting that BlackRock views both assets as trading at a discount.…
The post Bitcoin’s $404 mln outflows vs. Ethereum’s 15-week inflow streak: What’s going on? appeared on BitcoinEthereumNews.com.
Key Takeaways Digital assets saw $223 million in outflows, ending a 14-week streak. Bitcoin bore the brunt, while Ethereum continued to attract inflows. Digital asset investment products recorded $223 million in net outflows during the week ending the 2nd of August, the first pullback after 14 straight weeks of inflows. Source: CoinShares The week began strong with $883 million in inflows, but investor sentiment shifted quickly as the total crypto market cap fell 9.48%, erasing approximately $370 billion. The trigger? A hawkish U.S. Federal Reserve tone. Hawkish U.S. policy sparks investor sell-off The sell-off was triggered by U.S. investors reacting to a hawkish Federal Open Market Committee (FOMC) report, which stated that, “Inflation remains somewhat elevated.” Following the report, U.S. investors offloaded $383 million worth of digital asset products, pushing the month-to-date outflow to $974 million, just shy of the $1 billion mark. Investors from Germany, Sweden, and Brazil also contributed to the sell-off, collectively dumping $81 million worth of crypto products. Source: CoinShares Bitcoin [BTC] accounted for the bulk of outflows, recording $404 million in net losses, almost halving its month-to-date outflow of $844 million. Sui [SUI] and Litecoin [LTC] saw relatively minor outflows of just $1 million each. Ethereum [ETH], on the other hand, remained an outlier. It recorded its 15th consecutive week of inflows, adding $133.9 million, suggesting a shift in investor preference toward Ethereum over Bitcoin. Meanwhile, investor interest in Solana [SOL], Ripple [XRP], and Cardano [ADA] added another $41 million in cumulative inflows. BlackRock defies trend with aggressive accumulation While most institutional investors exited their Bitcoin and Ethereum exchange-traded fund (ETF) positions, BlackRock took the opposite approach. The firm’s spot Bitcoin and Ethereum iShares ETFs recorded inflows of $355.3 million and $394.2 million, respectively, suggesting that BlackRock views both assets as trading at a discount.…
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