Bitcoin ETFs Record $105 Million Outflow While This Ethereum Token Has Witnessed $3 Million In Inflows
Bitcoins (BTC) recent price action has continued to have several adverse effects. One is the significant outflows that the Spot Bitcoin ETFs have recorded lately. On August 28, these Bitcoin ETFs witnessed an outflow of $105 million as institutions withdrew their money from these funds. Meanwhile, the Ethereum Token ETFSwap (ETFS) is flourishing, recording over $3 million in inflows in its ongoing presale.
Spot Bitcoin ETFs Witness $105 Million In Outflows
Data from SoSo Value shows that the Spot Bitcoin ETFs witnessed $105 in outflows on August 28. ArkInvests Bitcoin ETF took the most hit with an outflow of $59.27 million. Fidelity and VanEcks Bitcoin ETFs recorded the second and third most outflows on the day, with $10.37 million and $10.07 million flowing out of these funds, respectively.
Grayscales Bitcoin Trust (GBTC) and Mini Bitcoin Trust recorded $8.77 million and $7.98 million in outflows, respectively. Meanwhile, Bitwises Spot Bitcoin ETF also saw $8.73 flow out of its fund. The remaining Spot Bitcoin ETFs traded flat with zero net flows.
This trend of outflows also continued on August 29, as the Spot Bitcoin ETFs again witnessed $71.73 million in outflows, according to data from SoSo Value. BlackRocks Spot Bitcoin ETF was also hit this time, recording the second-most outflows, with $13.51 million leaving the fund. Despite this development, these Spot Bitcoin ETFs have a total net inflow of over $17 billion since they launched.
Over $3 Million Flows Into ETFSwaps (ETFS) Ongoing Presale
Over $3 million has flowed into ETFSwaps (ETFS) ongoing presale as adherents look to scoop as many ETFS tokens as they can before the launch of the ETFSwap beta platform. The reason for this move isnt farfetched, as analysts project that the Ethereum token will make massive gains in this bull run.
This bullishness on the Ethereum token stems from its outstanding utility in the DeFi space. As the native token of the ETFSwap platform, ETFS is revolutionizing how users infuse in exchange-traded funds (ETFs) like the Spot Bitcoin ETFs.
ETFSwaps (ETFS) decentralized nature enables permissionless ETF trading. Users will be able to access traditional markets without needing authorization. All they need is the Ethereum token, and they can access in these traditional assets from anywhere in the world without the limitations of traditional systems.
Considering how easy and convenient it is to access the ETFSwap platform, ETFS will witness impressive demand from users looking to gain exposure to these assets, including the Spot Bitcoin ETFs. This demand will translate into greater trading volume for the Ethereum token, leading to unprecedented price gains for ETFS.
The demand for the ETFSwap (ETFS) token will also be massive since the trading platform will offer 24/7 market coverage, allowing users to trade these traditional assets anytime. It is also worth mentioning that the DeFi platform is more cost-effective than centralized trading platforms since there are no hidden costs on the blockchain.
Users holding the ETFSwap (ETFS) token will enjoy reduced costs. This is in addition to several other benefits they will enjoy by holding the Ethereum token. These include passive income from liquidity and the monthly airdrops distributed from the ETFS reward pool, for which they are eligible.
Another reason analysts are bullish on ETFSwap (ETFS) is because of its team. They have been certified by SolidProof for their proven track record. The team has also committed to ETFS long-term success by vesting their tokens for five years.
Conclusion
ETFSwap (ETFS) is expected to enjoy up to a 20,000% price gain when Bitcoins (BTC) price recovers and the bull run kicks into full gear. That is a 200x return for early holders, so you cant afford to miss out on the Ethereum token in its ongoing presale and at its current price of $0.01831.
For more information about the ETFS Crypto Presale:
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Text source: ZyCrypto
