Topic: Bitcoin ETFs Surge by $202M as Ethereum ETFs See $13M in Outflows (Read 28 times)

I don't think so. There's no rule saying that there will be this so called alt season.

All of this is based on the fact that when bitcoin went up by a lot, people would be in such euphoria that they would sell some of it to invest in other projects and spread the capital, but historically this was the wrong move. It was good if you managed to catch altcoins at the right moment and buy it when bitcoin was peaking and then sell a week or two later, before we enter a bear market. If you stayed in altcoins you did much worse than you would holding bitcoin and people learned on their mistakes. Some lost so much money they turned away from altcoins completely and in coming bull markets never chose to sell bitcoin for altcoins. Why should they do it now? How will they know it's the end of the bull run for bitcoin?

I'm actually kind of surprised to not see bitcoin a bit higher now that there are several ETFs out there.  For work, I am in the financial field and talk with clients daily about their portfolios and I often get quite a few questions about bitcoin.  I was expecting a lot more people to utilize these ETFs than what we've seen so far.

I do certainly expect them to pick up in due time, it's just a bit more slow than I thought it would be.

Ethereum Spot ETF effect is like Bitcoin Spot ETF had months ago with massive selling pressure from Grayscale. If people repeat the same like they did with Bitcoin Spot ETFs, selling pressure of Ethereum will be cooled down and ETH will return to its bullish journey in coming months.

It's definitely true to say that Ethereum bull run will have to follow Bitcoin bull run which is like a prerequisite. This flow diagram of cryptocurrency market, capital flow and ordinal bull runs of Bitcoin, Ethereum to other altcoins still works.

On August 26, U.S. Bitcoin exchange-traded funds (ETFs) recorded a substantial inflow of $202.51 million, marking the eighth consecutive day of gains for these financial instruments. This steady momentum contrasts sharply with the performance of Ethereum ETFs, which experienced outflows amounting to $13.23 million during the same trading session.

The combined performance of the 12 Bitcoin ETFs played a significant role in this upward trend. Leading the pack was Blackrock’s IBIT, which alone attracted a remarkable $224.06 million. Other notable performers included Franklin Templeton’s EZBC, which added $5.52 million, and Wisdomtree’s BTCW, which saw an inflow of $5.06 million. Despite these gains, not all Bitcoin ETFs benefited. Bitwise’s BITB ETF registered a loss of $16.61 million, followed by Fidelity’s FBTC and Vaneck's HODL, which dropped $8.33 million and $7.18 million, respectively. Several other ETFs, including GBTC, BTC, ARKB, BRRR, BTCO, and DEFI, remained stable, showing neither gains nor losses.

The significant inflows on Monday pushed the total net inflows for the 12 Bitcoin ETFs to an impressive $18.08 billion. Collectively, these funds now hold $58.47 billion worth of Bitcoin, representing 4.67% of the cryptocurrency's total market capitalization.

In stark contrast, Ethereum ETFs struggled on the same day, registering outflows of $13.23 million. This decline has contributed to the cumulative outflows of $477.88 million since July 23, according to sosovalue.xyz. Out of the nine Ethereum ETFs, none recorded gains, and three funds suffered notable losses. Grayscale’s ETHE was hit the hardest, losing $9.52 million, while Fidelity’s FETH saw outflows of $2.69 million, and Franklin Templeton’s EZET recorded a $1.02 million loss.

The trading volume for Ethereum ETFs on August 26 reached approximately $125.73 million. Currently, the nine Ethereum ETFs collectively hold $7.46 billion in reserves, which equates to 2.31% of the total market value of Ethereum.

As Bitcoin ETFs continue to draw significant investor interest, the contrasting fortunes of Ethereum ETFs underscore the volatility and divergent performance trends within the cryptocurrency markets.