bitcoin

Crypto Tokens Experience Bearish Week as Bitcoin and Ethereum ETFs Hit Multi-Month Lows

The Big Whale

— 1 min read
  • U.S. spot Bitcoin ETFs saw $211.1 million in net outflows on Thursday, marking the seventh consecutive day of negative flows totaling over $1 billion.
  • Spot Ethereum ETFs saw relatively minor movements on Thursday, with Grayscale's ETHE showing the only net outflows of $7.4 million.
  • Japan's three major banks plan to test a cross-border stablecoin transfer platform called "Project Pax."
  • The Ethereum Foundation plans to release a financial report to address community concerns about its spending.
  • Former SEC Chair Jay Clayton says the crypto industry is "pushing U.S. market infrastructure forward."
  • Crypto micropayments are key to avoiding financial bottlenecks in the emerging AI economy, according to an analyst.


Summary :
The prices of many crypto tokens, including Bitcoin and Ethereum, experienced a bearish week, with only three of the top 50 tokens by market cap gaining value. The value of U.S.-based spot Bitcoin and Ethereum exchange-traded funds (ETFs) hit new multi-month lows. On Friday, U.S. spot Bitcoin ETFs saw nearly $170 million worth of outflows, bringing the total cumulative value of the 12 funds on the market to $48.24 billion. This is the first time in a month that the value has fallen below $50 billion and the lowest since May 1. The outflows continue a streak of eight consecutive trading days of outflows for spot Bitcoin funds. Spot Ethereum ETFs also saw a decline in total asset value, reaching its lowest value since the first day of trading. However, two funds saw changes in net asset value on Friday, with Grayscale's ETHE experiencing outflows and Blackrock's ETHA seeing inflows. The Ethereum ETFs have logged an outflow of about $91 million so far in September.

Sources :

- TheBlock
- Decrypt
- Decrypt
- CoinTelegraph
- CoinTelegraph
- Decrypt
- CoinTelegraph
- Decrypt
- Decrypt
- TheBlock

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