💥💥💥 #BitcoinETFs Complete Weekly Inflow Streak, Ethereum ETFs Do the Opposite
On August 23rd, recent data on Ethereum and Bitcoin ETFs revealed significant market movements. Lookonchain, a well-known on-chain analytics provider, reported substantial inflows into Bitcoin ETFs, while Ethereum ETFs saw notable outflows, reflecting the current mixed investor sentiment in the crypto market. The analytics firm shared these insights on its official social media channels.
Bitcoin ETFs Attract $60.84M in BTC Tokens
Bitcoin ETFs saw a positive shift as Lookonchain reported the addition of 992 BTC, valued at approximately $60.84 million. This surge in inflows suggests growing investor interest in Bitcoin-related financial products. The iShares Bitcoin ETF was a key player in this trend, recording a significant inflow of nearly $76.8 million.
As a result of this influx, iShares' Bitcoin holdings have seen a considerable increase, now totaling around 352,843 BTC, equivalent to $21.65 billion. This accumulation, along with the overall positive inflow into BTC ETFs, indicates a bullish sentiment among investors who view Bitcoin as a promising asset for their portfolios.
Ethereum ETFs Experience Outflows of 4,972 ETH Tokens
In contrast, Ethereum ETFs displayed a negative trend. Lookonchain reported that 4,972 ETH, valued at approximately $13.23 million, exited the Ethereum ETF sector. Grayscale’s Ethereum Trust (ETHE) was particularly impacted, with 11,885 ETH, worth $31.61 million, flowing out.
Despite this outflow, #Grayscale’s Ethereum Trust still holds a substantial reserve of nearly 1,830,266 ETH, valued at approximately $4.87 billion. While the outflows highlight some investor caution, the large reserve held by Grayscale indicates continued confidence in Ethereum as a long-term asset.
Source - blockchainreporter.net
