The ETF Bitcoin and Ether are discouraged for USD $ 950 million in the middle of the price drop

By Hannah Pérez

The ETF Bitcoin and Ether drag three consecutive days of exits, with retreats that now exceed USD $ 1.3 billion in the period. The outputs are aligned with a broader pricing correction among cryptocurrencies.

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• The Bitcoin and Ether in the US ETF in the US
• After the departure of USD $ 953 million yesterday, the negative figure increases to USD $ 1.3 billion.
• The entrance brake is aligned with a broader correction in the crypto market.
• Bitcoin backed into a minimum of USD $ 112,000 while ETH tested levels at USD $ 4,074.

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The funds quoted in the bag (ETF) of cryptocurrencies in cash in the US.

The ETF of Bitcoin They registered net capital outputs for USD $ 523.3 million during yesterday, while their peers with exposure to Ethereum They saw USD $ 429.7 million, according to data from Sosovalue. Both figures add up approximately USD $ 953 million in combined negative flows For the fund group.

On Tuesday he marked the third consecutive session of exits for both ETF of cryptocurrencies, which resulted in a combined negative flow of USD $ 1,344.9 million accumulated in the period.

The ETF of Ethereum The counted have observed on their own exits for USD $ 685.36 million in the last three days, which contrasts with the streak of record tickets of recent days. Last week, the group secured a new historical maximum when it attracted just over USD $ 2.8 billion of investors in a single week.

Three days of exits for the ETFs

All ETF in cash Ethereum They registered net outings on Tuesday, except for one –CETH DE 21Shares– that remained unchanged. Feth of Fidelity He was the largest loser of the day with an exit per USD $ 156 million, followed by ETHE of Grayscalewhich saw a net retirement for USD $ 122 million, according to the data source cited.

In the case of funds from Bitcointhe outputs were led by FBTC of Fidelity with a daily negative figure of USD $ 246.8 million, with GBTC of Grayscale continuing with an estimated loss of capital of USD $ 115.5 million in the day. Half of ETFs Bitcoinamong which Ibit of Blackrockit remained neutral, without inputs or daily exits.

The total net entrances of the ETFs Bitcoin They are now located at USD $ 54.3 billion, with assets under management for USD $ 146 billion.

Meanwhile, the ETF Ethereum They accumulate a flow of USD $ 12 billion since its launch a little over a year ago, with assets under management, reaching almost USD $ 26 billion, equivalent to approximately 5% of the total supply of Ethereum (ETH).

Crypto market takes a reverse

The outputs between both ETF cohorts were aligned with a broader bearish action in the cryptocurrency market, which pushes Bitcoin (BTC) almost 10% below its recent historical maximum and led ETH below USD $ 4,100.

The data of Coingcko They show that the second main cryptocurrency was reversed towards a local minimum of $ 4,074 on Tuesday afternoon (ET) after having reconquered maximums of 2021 last week. Ether He had resumed a top close to USD $ 4,800 in the middle of the institutional impulse and the aggressive corporate purchases of companies with treasury Ethereum.

Bitcoinon the other hand, it decreased towards a minimum of USD $ 112,500 in the morning hours on Wednesday before a recovery. The largest cryptocurrency broke a historical record of more than $ 124,000 last Thursday, but since then it has been corrected.

The appetite for the risk in the markets vanished this week, partly due to the expectation for the speech of the president of the Federal Reserve (Fed), Jerome Powell, scheduled for Friday in Jackson Hole, Wyoming. Investors are attentive to possible signals on monetary policy, and more volatility is estimated between cryptocurrencies prior to the event.

BTC recovered during the writing of this article on a price of USD $ 113,500 while ETH resumed USD $ 4,200 at a modest increase of 0.3% in 24 hours.

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Hannah Estefanía Pérez / Diariobitcoin

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