Bitcoin ETFs record combined $1.2B in outflows in 8 days
Despite the outflows, crypto ETFs outshined the over 400 new ETFs in 2024, with the four biggest launches being spot Bitcoin ETFs.
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Despite the outflows, crypto ETFs outshined the over 400 new ETFs in 2024, with the four biggest launches being spot Bitcoin ETFs.
The CIO rebutted a more bearish take by investment researcher Jim Bianco, who noted that 85% of Bitcoin ETF uptake is NOT from tradfi institutions.
Finncil dvisr Suz Ormn, rnownd uthor nd host of th “Womn & Mony” podcst, rcntly ndorsd Bitcoin ownrship, but with msurd cution. In n intrviw with CNBC, Ormn, who hostd Th Suz Ormn Show from 2002 to 2016, dvisd tht individuls should considr dding BTC to thir portfolios, though only wht thy r comfortbl losing. […]
Digital asset investment products saw significant outflows totaling $726 million, matching the highest outflow recorded earlier this year in March, according to CoinShares‘ latest report. James Butterfill, head of research at CoinShares, attributed this negative sentiment to stronger-than-expected macroeconomic data from the previous week. This increased the likelihood of a 25-basis point interest rate hike […]
The post Digital assets suffer as Bitcoin leads $726 million outflow appeared first on CryptoSlate.
CoinShares expects that a 50-basis-point cut is more likely if inflation comes in below expectations in the upcoming inflation report on Sept. 10.
Ether whale interest is slowly reemerging after summer illiquidity, with technical chart patterns pointing to an imminent price reversal.
Australia's Monochrome Bitcoin ETF is partnering with Hoseki to implement proof-of-reserves, becoming the first Australian spot Bitcoin ETF to provide daily verification of holdings.
As the likelihood of Solana ETFs edge closer, with Brazil approving the first one ever, investors are hunting for the top Solana tokens to take advantage of a speculative jump. Fortunately, weve done the hard work to find three of the best cryptos to buy in September to join the Solana moon-bound rocket. Stay tuned […]
Bitcoin is firm at spot rates, looking at the development in the daily chart. Even so, the downtrend remains, and price action remains within a bearish breakout formation. This outlook follows the dump on September 7 that saw the world’s most valuable coin plunge, approaching the all-important round number, $50,000. Bitcoin Leveraged Positions Building Up Technically, the downtrend remains, especially if bulls can’t unwind the losses of September 7. From an effort-versus-result perspective, the trend set in motion by September 7 will shape the short-term, possibly accelerating the fall below August lows. Related Reading: FET Teeters At Trendline: Will A Breakout Fuel A Run To $1.86? Amid this development, one on-chain analyst notes that there has been a massive accumulation of leveraged positions from March 2024. Though it remains uncertain which direction prices will move, the current state of affairs means sellers have the upper hand. If bulls take over, this would be a massive sentiment boost for BTC bulls, who have had to contend with sharp losses over the past three months. Regardless of the direction, this build-up in leverage position precedes a period of heightened volatility in the coming days. While Bitcoin trends lower, sentiment has taken a hit, explaining the shrinking trading volume over the past two weeks. Since late August, BTC has fallen from around $66,000, losing nearly 20% by last week’s lows. At the same time, volatility is comparatively low and not unlike the state of affairs when BTC turned the corner, sharply expanding from late February before printing fresh all-time highs in mid-March 2024. Average Funding Rate Is Bullish, Will This Change? Interestingly, despite the lower lows, trading data shows that the average funding rate across derivatives exchanges has remained bullish for over a year. This development could be due to the shift in price action that saw the world’s most valuable coin turn the corner, rising from late Q3 2023. The recovery saw BTC shake off weakness and explode to above $70,000 after losses in 2022 that took the coin to as low as $15,800. Related Reading: Bitcoin Rainbow Chart Forecasts An End To Bearish Headwinds With $60,000+ Target For bulls to dominate in the derivatives market, prices must recover steadily. A break above $66,000 and July highs would likely spur demand, lifting the coin above the multi-month resistance at $72,000. Nonetheless, for this to happen, there must be inflows to spot Bitcoin ETFs. Falling prices have accelerated outflows from this product, meaning institutions are playing safe. So far, SosoValue shows outflows of over $169 million for spot Bitcoin ETF issuers in the United States. Feature image from DALLE, chart from Trading View
Economist and podcast host Suze Orman is bullish on Bitcoin, but says ETFs are the way to go.
The AUM of all BTC ETFs have dumped below $50 billion.
WisdomTree, a prominent asset management firm, has withdrawn its S-1 registration filing for the WisdomTree Ethereum Trust. The firm declared in a filing with the US Securities and Exchange Commission. The S-1 filing was intended to pave the way for WisdomTree’s Ethereum Trust to be listed on the stock exchange.
In a significant shift of focus for its crypto-related products, VanEck has announced it will soon shut down and liquidate its Ethereum futures ETF, known as the VanEck Ethereum Strategy ETF (EFUT). This decision, unveiled on September 5, comes on the heels of the approval of VanEcks spot Ethereum exchange-traded product (ETP), reflecting a strategic […]
Asset management firm VanEck announced plans to close and liquidate its Ethereum futures exchange-traded fund (ETF) EFUT, according to a Sept. 6 statement. VanEck cited performance, liquidity, assets under management (AUM), and investor interest as factors behind its decision. The firm also noted the recent approval of its spot Ethereum ETP, ETHV, by the US […]
The post VanEck shifts focus to spot Ethereum ETF, phases out futures fund EFUT appeared first on CryptoSlate.
Spot Ethereum ETFs are stealing the show and killing demand for futures-based crypto ETFs.
The crypto market remains volatile as the two leading giants, Bitcoin (BTC) and Ethereum (ETH), struggle to gain traction. Bitcoin (BTC) has fallen sharply below crucial resistance, extending its bearish trend into September, while Ethereum has stayed below its All-Time High (ATH). On the other hand, ETFSwap (ETFS), a new
VanEck is closing its Ethereum Futures ETF (EFUT) by September 16, 2024. The EFUT saw low asset accumulation as compared to VanEck’s spot Ethereum ETF. Generally, Ethereum is facing challenges from competition and reduced network revenue and fees. VanEck is set to close its Ethereum Strategy ETF (EFUT) by September 16, 2024, with liquidation expected […]
The post VanEck to close its Ethereum futures ETF in September, a year after launch appeared first on CoinJournal.
VanEck's ESPO ETF Q & A highlights the gaming and eSports sector's growth, challenges, and key trends, projecting significant market expansion. (Read More)
Sustained outflows from US Bitcoin ETFs signal waning investor confidence and could exacerbate market volatility and price declines.
The post US Bitcoin ETFs hit 7-day losing streak, outflows surpass $1 billion appeared first on Crypto Briefing.
Declining trading volumes and slowing ETF inflows could set the stage for a correction below $50,000 before a rally to new highs.
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