Significant Outflows in Bitcoin and Ethereum ETFs
8/2/2024 4:52:52 PM
According to Lookonchain, there have been notable outflows in Bitcoin and Ethereum ETFs as of August 2. Bitcoin ETFs experienced a net outflow of 812 BTC, equivalent to $51.43 million, with Fidelity alone accounting for 765 BTC or $48.47 million of this outflow. Fidelity currently holds 179,749 BTC valued at $11.39 billion. Ethereum ETFs saw a net outflow of 63 ETH, worth $192,000, with Grayscale's ETHE contributing significantly by offloading 40,976 ETH, which amounts to $124.45 million. Grayscale now holds 2,029,873 ETH, valued at $6.16 billion. These outflows could signal a bearish sentiment among institutional investors. (Source)
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