Ethereum ETFs Experience Inactivity on Friday, a First Since Launch of US Spot Crypto ETFs
Data provided by Farside indicates that the Bitcoin market witnessed its fourth consecutive day of outflows, amounting to $479.8 million during the specified period. On Aug. 30 alone, outflows reached $175.6 million across various Bitcoin ETFs. Notable outflows were observed in Fidelity’s FBTC ($12.9 million), Bitwise’s BITB ($16.4 million), ARK’s ARKB ($65 million), Invesco’s BTCO ($11.1 million), and Grayscale’s GBTC ($70.2 million). Despite these outflows, total ETF inflows remained at $17.6 billion.
In contrast to Bitcoin ETFs, Ethereum ETFs displayed no activity on Aug. 30, with no inflows or outflows recorded across all issuers, a phenomenon unprecedented since the launch of Bitcoin ETFs.
Regarding market performance, Bitcoin concluded August with a 9% decline, while Ethereum experienced a more significant drop of 22%. The ETH/BTC ratio currently stands slightly above 0.043, with Bitcoin’s dominance in the market surpassing 57%, approaching new year-to-date highs. These trends highlight Bitcoin’s increasing dominance in the current market landscape.
