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Ether ETF Debut Impact: Decline in Market Liquidity and Outflows
2024-09-06 09:00:08
Markets
Stocks

Ether ETF Debut Impact: Decline in Market Liquidity and Outflows

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Despite the boost in bitcoin market liquidity, Ether's market depth dropped by 20% on U.S. exchanges and 19% offshore post the Ether ETF debut. Mounting outflows exceeding $500 million and market conditions led to a 25% price drop to $2,380.

Spot Bitcoin ETFs saw a six-fold surge in outflows to $211.15 million, with BlackRock's IBIT remaining stable. BlackRock's bitcoin ETF faced $13.5 million outflows since May, contrasting Fidelity and Grayscale's inflows.

Ethereum ETFs struggled amidst Solana's competition and macroeconomic uncertainties, with analysts eyeing a potential rally and setting a $6,500 price target for year-end.

The press radar on this topic:

The Street
11. September 2024 um 17:04

BlackRock's bitcoin ETF loses $13.5 million in first outflows since May

Finance
BlackRock's iShares Bitcoin Trust (IBIT) saw $13.5M outflows, its first major losses since May's $36.9M. Rival funds from Fidelity, Grayscale, Bitwise logged $71.8M in outflows. ARK 21Shares Bitcoin ETF saw $5.3M inflows. Ether ETFs recorded $1.7M in losses. The 11 SEC-approved bitcoin ETFs' performance has not worried analysts as bitcoin trades at $59,000.
The Street
12. September 2024 um 15:42

Ethereum ETFs are continuing to struggle. Is that about to change?

Cryptocurrencies & blockchain
Finance
Ethereum ETFs struggled; Solana's streamlined platform vs. Ethereum's fragmentation; Bitcoin's macro asset status. Ethereum's revival tied to macroeconomic shifts, not just technical progress. Analyst maintains $6,500 year-end price target for Ethereum, sees potential rally ahead.
Crypto.news
6. September 2024 um 07:12

Spot Bitcoin ETF outflows surge six-fold, Ether ETF outflows slow down

Finance
Cryptocurrencies & blockchain
Spot Bitcoin ETFs in the U.S. saw outflows surge over six-fold to $211.15 million on Sep. 5, led by Fidelity's FBTC with $149.5 million. The largest spot BTC fund, BlackRock's IBIT, with over $20.91 billion in total inflows, remained neutral. Fidelity's FBTC also saw the largest outflows over the last seven days, with $374 million withdrawn, surpassing the $227 million in outflows from Grayscale's GBTC. Spot Ether ETFs also saw outflows, with Grayscale's ETHE recording $7.4 million and the Gra..
CoinDesk
6. September 2024 um 07:34

Weeks After Ether ETF Debut, ETH Market Liquidity Has Dropped by 20%

Finance
Cryptocurrencies & blockchain
Ether's order book liquidity has declined 20% on U.S. exchanges and 19% on offshore venues since the July 2023 debut of nine ETFs, despite the liquidity boost seen in the bitcoin market; this is likely due to poor market conditions, seasonal factors, and ether ETFs witnessing over $500 million in outflows, contributing to a 25% price decline to $2,380, according to CCData research analyst Jacob Joseph, who noted the 5% market depth has dropped nearly 45% since its June peak.
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