Crypto products post $726M outflows amid rate cut uncertainty

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.

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US Digital Asset Outflows Reach $721M Amid Rate Cut Uncertainty, Europe Shows Resilience

Digital asset investment products faced significant outflows, primarily from the US, amid interest rate cut uncertainty, while Europe showed resilience. (Read More)

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Why is Ethereum (ETH) price underperforming compared to wider crypto market?

Ether price continues to plunge as troubled investors worry about the lack of spot Ether inflows, declining Ethereum network fees and a potential tech stock bubble bursting.

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Crypto products hit with $305M outflow amid strong US economic data

CoinShares expects that crypto investment products will become increasingly sensitive to interest rate expectations in September.

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Crypto Assets Face $528M Outflow Amid Market Chaos and Recession Fears

Crypto ssts hv xprincd dclin, ccording to CoinShrs’ ltst rport indicting shift in invstor sntimnt. For th first tim in month, th crypto mrkt hs sn nt outflow of $528 million, drivn by frs of potntil US rcssion, rising gopoliticl tnsions, nd widsprd sll-offs cross sst clsss. Exchng-trdd products (ETPs) […]

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Grayscale Ethereum ETF outflows exceed $2B

While Grayscales spot Ether ETF experienced substantial outflows, other ETFs are showing different trends.

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ChatGPT may already have more monthly users than Netflix

OpenAI says the chatbot has doubled its user count over the last year to more than 200 million per week.

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Ethereum DApp volumes rise 36% in a week Will ETH price follow?

Interactions with Ethereum DApps are soaring, but ETH price has failed to react.

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Ethereum whales buy big as ETH bottom approaches, analysts predict

Ether ETFs are on track to reach $500 million in net outflows, but according to market analysts, the ETH bottom may be in.

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Ethereum futures open interest hits 19-month high, yet ETH price weakness intensifies

Ethereum derivatives metrics show increased activity, indicating higher interest but not necessarily a bullish trend.

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Bitcoin pinned below $60K Is BTC consolidating or preparing for more downside?

Institutional spot Bitcoin ETF outflows and lowered Bitcoin miner profitability could be driving the current price drop

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Ether price drop due to investor sentiment, not $420M ETF outflows Nansen

Ethers price is subdued by a lack of risk appetite among investors caused by wider macroeconomic conditions.

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Ether price drops 26% since ETF launch as supply increases by 60,500 ETH

The US Ether ETFs generated over $420 million worth of selling pressure for the world's second-largest cryptocurrency.

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Spot Bitcoin ETFs attract investor interest despite August outflows

The positive inflows into ETFs from major players like Fidelity and BlackRock highlight the growing confidence in the investment vehicles.

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Bitcoin Observes Pullback To $58,000: Is This The Cause?

Bitcoin has observed a pullback down to the $58,000 level during the past day. Here’s what could be the cause behind it, according to on-chain data. Exchanges Have Seen A Large Amount Of Tether Withdrawals Recently According to data from the market intelligence platform IntoTheBlock, centralized exchanges have recently seen a Tether (USDT) outflow spree [...]

The post Bitcoin Observes Pullback To $58,000: Is This The Cause? appeared first on Crypto Breaking News.

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Grayscale sheds $20B from Bitcoin and Ether ETFs

Grayscales spot BTC and ETH ETFs face significant outflows, while other approved ETF participants maintain a positive balance.

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Ethereum ETF launch drives $2.2B inflows CoinShares

CoinShares reports that spot-based Ether ETFs debut with a significant $2.2 billion of inflows, offset by Grayscales $285 million in net outflows.

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Grayscale Ethereum Trust ETF net outflows hit $1.5B

Based on the present rate of outflows, ETHEs Ether reserves could be exhausted within weeks.

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bitFlyer Swallows FTX Japan Whole: Plans to Enhance Crypto Custody and ETF

bitFlyer Holdings Inc, a cryptocurrency exchange in Japan,has announced it has completed the acquisition of 100% of FTX Japansoutstanding shares, making it its wholly-owned subsidiary. This subsidiary willbe rebranded under the bitFlyer name by August 26, 2024.

Expanding with Acquisition

This acquisition aligns with bitFlyers strategic goals ontwo main fronts. First, the company aims to enhance its crypto custody serviceswith advanced security features designed for institutional investors.

Additionally, bitFlyer plans to offer services related tocryptocurrency spot exchange-traded funds (ETFs) in the future. However, thiswill depend on the establishment of appropriate legal frameworks in Japan.

Earlier, FTXJapan, part of over 100 entities in bankruptcy proceedings, reported havingmore assets than liabilities, with $134 million in segregated user assets, asreported by Finance Magnates.This raised hopes for recovering funds for Japanese customers.

Bitflyer was setto acquire all shares of FTX Japan, valued at several billion yen. Bitflyer,licensed by Japan's Financial Services Agency since 2017, ranked 22nd globallyby trading volume, with $73.11 million in 24-hour trades, largely driven byBTC/JPY transactions.

Bitflyer to launch custodian #Crypto business after FTX Japan buyout #Crypto.news: Bitflyer to launch custodian #Crypto business after FTX Japan buyout #Crypto.news https://t.co/iCT2uCQWj7

Institutional Custody and ETF Expansion

Upon rebranding and integrating FTX Japan, bitFlyer willconcentrate on launching a crypto custody business. This service will primarilytarget institutional investors and will emphasize high-security measures toprotect digital assets.

An official statement from the firm issued in that regardreads: Our extensive expertise in blockchain technology and ourproprietary security-focused wallet solution reinforce our commitment tosecuring institutional investments.

In light of the recent approval by the US Securities andExchange Commission of 11 Bitcoin spot ETFs in January 2024, bitFlyeranticipates a similar regulatory push in Japan. The company is preparing tooffer crypto spot ETF services once Japans legal and tax systems areadequately developed.

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bitFlyer acquires FTX Japan, plans to launch crypto ETFs

The acquisition could be another step toward the first spot crypto ETF launching in Japanese markets.

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