Bitcoin ETF Outflows and Ethereum ETF Inflows
Spot Bitcoin exchange-traded funds in the U.S. experienced a net outflow of $78 million on July 23, marking the end of consecutive inflows as Ethereum ETFs were introduced. Farside Investors data revealed that Bitwise Bitcoin ETF (BITB) saw the most significant outflow at $70.3 million, while BlackRock’s iShares Bitcoin Trust (IBIT) continued to attract $71.9 million in inflows.
Market Corrections and Cryptocurrency Performance
The global crypto market capitalization dropped by 0.5% to $2.51 trillion, with Bitcoin trading at around $66,000 and Ethereum at $3,450. Despite this market correction, spot Ethereum ETFs saw a remarkable net inflow of $106.8 million and generated a trading volume of $1.1 billion on their launch day.
Spot ETH ETF Launch Impact
The introduction of spot Ethereum ETFs led to a shift in investment trends, with investors showing strong interest in Ethereum as an alternative to Bitcoin. These ETFs attracted significant capital inflows on their debut, indicating a growing market demand for diversified cryptocurrency investment options.
