The ETF Bitcoin and Ether saw their largest weekly departure since February for USD $ 1.4 billion

By Hannah Pérez

The fears of investors before the actions of the Federal Reserve (FED) on interest rates limited the appetite for risk last week, making prices fall and causing the highest exits in months among the ETFs.

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• The ETF Bitcoin marked their greatest historical exit while the ETF Ethereum maintained resilience.
• The expectations of a severe speech by the president of the FED, Jerome Powell, were responsible.
• Powell assumed a soft tone when he hinted at a possible rate cut for September.
• The crypto market became positive on Friday, and during the weekend, but now it is again bassist.

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The funds quoted in the stock market (ETF) of Bitcoin and Ethereum In cash in the United States they experienced the highest weekly departure in months last week as the expectations for the speech of the president of the Federal Reserve affected the appetite for the risk.

The data of Sosovalue show that ETF of Bitcoin They saw USD $ 1.17 billion Last week marking its second largest historical departure since they registered a negative flow per USD $ 2.6 billion last week.

The 12 ETF group with direct exposure to Bitcoin He observed the weekly departure in the middle of a daily negative streak that extended until Friday, when he closed the session with USD $ 23 million less marking his sixth consecutive day of losses.

While the ETFs of Ethereum In cash showed greater resilience, the weekly result was equally negative, with a Net departure per USD $ 237.7 million for the week ending on August 22. This was also the largest weekly departure for the group since February, and it is now the third largest weekly loss in the history of those funds.

Different from your counterparts of BitcoinETFs with exposure to Etherthey registered net capital tickets on Thursday and Friday for a set of USD $ 287.6 million and USD $ 341.1 million, respectively.

Powell waved the market, causing outputs in ETF

Reviewing the flows of cryptocurrency investment products globally –among which are US ETFs of Bitcoin and Ethereum–the research team of Coinshares He noticed broader weekly net outings, explaining that these were the result of the fears in the actions of the Federal Reserve (FED) on interest rates.

“Investment products in digital assets registered their first significant exits in weeks, for a total of 1,430 million dollars, the largest since March[…] As the feeling of investors became more and more polarized about US monetary policy“, Wrote James Butterfill, head of investigation of Coinsharesin a report on Monday.

The outputs coincided with a correction in the cryptocurrency market, where Bitcoin It was reversed almost 10% from its historical maximum above USD $ 124,000 conquered on August 14, as the expectation of a rate cut for September decreased and the feeling of risk aversion seized the market.

However, Powell’s less aggressive speech caused a sudden change in the market. For Friday, Bitcoin It emerged on the USD $ 117,000 and Ethereum (ETH) resumed his rally, conquering a new USD $ 4,950 on the weekend. Powell suggested that the Central Bank could apply a feat of the fees for September, as the operators initially expected.

“Pessimism around the federal reserve position promoted 2,000 million dollars. However, the feeling changed later in the week after Jerome Powell’s speech in Jackson Hole’s symposium“Butterfill said.

Investors rotate from Bitcoin to Ethereum

Negotiation volumes in stock -listed products (ETP) reached USD $ 38 billion, 50% above this year’s average, reflecting polarization in the feeling of investors, he noticed Coinshares.

So far this month, the products of Ethereum Net tickets of USD $ 2.5 billion accumulate, while Bitcoin It has net exits of USD $ 1 billion. Annual tickets represent 26% of assets under management for Ethereumcompared to 11% to BitcoinThey added, which reflects a clear change in the feeling of investors with a growing preference towards ETH.

Beyond the two main cryptocurrencies, there were mixed flows between the Altcoins. The products of XRP and Solarium They saw tickets for USD $ 25 million and USD $ 12 millionrespectively in the week, while Sui and Ton They suffered from USD $ 12.9 million and USD $ 1.5 million, according to the report.

After the rebound of the weekend, the cryptocurrency market has become bassist again this Monday. Bitcoin He slowly retreated below $ 111,000 earlier before resuming USD $ 112,457 at the time of editing, 1.5% lower in 24 hours. Meanwhile, ETH is negotiated at USD $ 4,579, with a drop of 5.5%, according to data from Coingcko.

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Article written with the help of AI, edited by Diariobitcoin

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