Ethereum ETFs confirmed no exercise on Friday, a primary since US spot crypto ETFs launched

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Fast Take

Knowledge from Farside revealed that the Bitcoin market skilled its fourth consecutive day of outflows, totaling $479.8 million for the interval. Aug. 30 alone noticed an outflow of $175.6 million throughout numerous Bitcoin ETFs. Among the many most notable have been Constancy’s FBTC, which noticed outflows of $12.9 million, Bitwise’s BITB with $16.4 million, ARK’s ARKB with $65 million, Invesco’s BTCO with $11.1 million, and Grayscale’s GBTC with a considerable $70.2 million. Regardless of these outflows, complete ETF inflows stand at $17.6 billion.

BTC ETF Flows: (Source: Farside) — BTC ETF Flows: (Supply: Farside)

Farside knowledge reveals that in distinction to Bitcoin ETFs, Ethereum ETFs confirmed no exercise on Aug. 30, with neither inflows nor outflows recorded throughout all issuers. This has not occurred earlier than on any day for the reason that Bitcoin ETFs have been launched.

ETH ETF Flows: (Source: Farside) — ETH ETF Flows: (Supply: Farside)

When it comes to market efficiency, Bitcoin ended August with a 9% decline, whereas Ethereum fared worse, dropping 22%. The ETH/BTC ratio now hovers simply above 0.043, with Bitcoin’s dominance out there reaching over 57%, nearing new year-to-date highs. These developments underscore the rising dominance of Bitcoin within the present market setting.

ETHBTC: (Source: TradingView) — ETHBTC: (Supply: TradingView)

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