In the United States, spot Bitcoin exchange traded funds saw positive returns again. Spot Ethereum ETFs saw significant outflows and ended their 3-day winning streak.
Data SoSoValue reports that the 12 U.S. Bitcoin spot ETFs recorded a combined inflow of 11.11 million dollars on August 15, ending their downward trend. short-lived Negative flow was seen the day before.
Grayscale’s Bitcoin mini-trust and Biwise’s BITB, which each saw inflows between $13.7 million to $6.2million respectively, followed Fidelity’s FBTC. Grayscale’s GBTC, the company’s only Bitcoin ETF offering, saw outflows totaling $25 million. This brings its net outflows since launch to a whopping $19.57 billion. Seven other Bitcoin ETFs did not report any changes to their day-to-day inflows and outflows.
The ETFs that track spot ether have seen a significant outflow
Collectively, nine Ethereum ETFs experienced a decline. $39.21 million in outflows On Aug. 15 a reverse from previous daily inflows $10.8 million $24.3 million. Grayscale ETHE led the way with outflows totaling $2.38bn since inception.
Fidelity FETH’s ETHA and BlackRock ETHA both experienced modest daily inflows, of $0.8 and $2.5 million respectively. Seven other Ethereum ETFs did not show any significant activity. Ether-based ETFs have seen a spike in their trading volume which is $240.58 Million higher than it was the day prior. The cumulative outflow for these funds is $405.11 million.
Focus on Leveraged Funds attracts Investors
Defiance is a U.S. ETF provider. Recently, the U.S. Securities and Exchange Commission approved the launch a new leveraged ETF called MSTX. The fund is designed to give investors a daily exposure of 175% to the long side. MicroStrategyThey can gain exposure to innovative businesses without needing a margin account.
MSTX’s debut day generated $ 93,047 in revenue. $22 million Eric Balchunas, Senior ETF analyst at Bloomberg, believes that the volume could set a record.
In spite of this and the addition of IBIT as another ETF the crypto market has shown only a mild response. Many major cryptocurrencies are either stable or have seen minimal growth. BitcoinBTCEthereum () gained only 0.77%.ETHAccording to data provided by Crypto.news, ) saw a decrease of 0.16 %.
Bitcoin briefly fell below the $57,000 threshold, but managed to rise back to the current level of $58,442 as I write this. Aptos (APTCelestia (TIA() are the worst hit of the ten top-ranked stocks by daily market capitalization, with a drop of 4.9% and 3.8% respectively.
In an August 15 posting on X, Rekt capital noted that Bitcoin was currently retesting its bottom trading channel, which is indicated on the chart by a circle in green. Also, they emphasized the importance of maintaining stability in price at this level to ensure that Bitcoin’s future trend can continue upward.
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Source: crypto.news