Crypto
Bitcoin and Ethereum ETFs Show Widening Divides in Latest Flows
The latest numbers from the US spot Bitcoin ETFs show a stark contrast between Bitcoin and Ethereum. As of September 1st, a total of $236.47 million was withdrawn from these funds.
The majority of this negative flow came from BlackRock IBIT, which accounted for $201.18 million in withdrawals.
In stark contrast, the Ethereum ETFs saw a positive influx of $10.95 million over the same period.
This divergence has significant implications, particularly with regards to the influence these funds could have on the block production of both Bitcoin and Ethereum. According to Glassnode and Ark Invest, three entities are poised to reach the threshold that could impact block production.