Spot Ether ETFs Shed $952M Over 5 Days as Recession Fears Grow
Despite the outflows, ether rose by more than 16% in the past month, driven in part by the passage of the GENIUS Act.
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Despite the outflows, ether rose by more than 16% in the past month, driven in part by the passage of the GENIUS Act.
The move follows registration for a standalone Truth Social bitcoin ETF earlier this month.
The two Bitwise executives have worked tirelessly to get crypto exchange-traded funds approved by the SEC, and this year they finally succeeded.
Bitcoin’s price has now corrected approximately 6% since the all-time high break on Nov. 13.
Bitcoin dominance continues its uptrend and hits new highs as ETF inflows soar.
Following their listing, ether ETFs did not enjoy the same response as their bitcoin equivalents had done in January.
If Vice President Kamala Harris beats Donald Trump in the U.S. presidential election, that could be good for Ethereum, though crypto is in good shape either way, Bitwise’s Matt Hougan says.
Crypto was the leading asset class among millennial ETF investors, topping even stocks and bonds, the survey showed.
Bitwise announced the Bitwise Trendwise Bitcoin and Treasuries Rotation Strategy ETF (BITC) on Friday, a fund that combines the Bitwise Bitcoin Strategy Optm Roll ETF (BITC), Bitwise Ethereum Strategy ETF (AETH) and Bitwise Bitcoin and Eth Eq Wgh Str ETF (BTOP).
Bitcoin and ether outflows from ETFs contribute to this week’s weak crypto price action.