Key points:
Spot bitcoin ETFs outflows reached $52.83 million,, largely from Ark Invest and 21Shares’ ARKB, which saw outflows of $43.41 million. Grayscale and Bitwise funds also reported losses. Only Grayscale’s Bitcoin Mini Trust saw inflows of $2.66 million, according to data from SoSoValue.
Despite the outflows, the 12 funds involved traded $1.63 billion on Wednesday. The overall market performance remained strong, with bitcoin rising 3.03% in response to the Federal Reserve’s latest rate cut.
Read more: Spot Bitcoin ETFs See $211 Million Outflows, Extending Losing Streak
Spot Ethereum ETFs continued their outflow trend with a loss of $9.74 million, led by Grayscale’s ETHE fund, which moved $14.66 million out. Only BlackRock’s ETHA fund saw net inflows.
However, the broader crypto market has shown resilience. Bitcoin surged to $62,138 after the Federal Reserve cut interest rates by 50 basis points, boosting confidence and fueling gains in altcoins like Ethereum and Solana.
DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing. |
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