Bitcoin trumps ether in ETF flows
S&P 500, Nasdaq modestly higher; Dow ~unchanged
Tech up most among S&P sectors; Energy biggest laggard
Dollar off; gold inches up; crude, bitcoin both down >2%
10-Year U.S. Treasury yield edges up to ~3.83%
Welcome to the home for real-time coverage of markets brought to you by Reuters reporters. You can share your thoughts with us at markets.research@thomsonreuters.com
BITCOIN TRUMPS ETHER IN ETF FLOWS
Digital asset investment products saw inflows totaling $533 million last week, marking the largest inflows in five weeks after remarks from U.S. Federal Reserve Chair Jerome Powell cemented bets of an interest rate cut in September, according to a CoinShares report.
ETFs linked to spot bitcoin attracted $543 million of inflows, particularly on Friday after Powell's dovish comments, while outflows in funds tied to ether logged $36 million in outflows in the week ended Aug. 24.
The spot bitcoin ETFs launch in January after years of regulatory pushback was a major victory for the digital asset industry.
BlackRock's ishares Bitcoin Trust IBIT.O recorded nearly $21 billion sales since its launch, making it one of the most successful ETF launches of the year and the fourth largest asset gatherer in 2024 among all ETFs, J.P.Morgan said in a note on Monday.
This paved the way for the launch of spot ether ETFs about six months later but the demand was tepid in comparison.
Comparing the first 25 trading days of bitcoin and ether spot ETFs, bitcoin sawn 19 days of net inflows and six days of outflows, while ETH has experienced eight days of net inflows and 17 days of outflows.
"This stark difference in demand, favouring BTC over ETH among traditional finance investors, is not surprising and should not be seen as a negative outcome," said Matteo Greco, analyst at digital asset investment company Fineqia International FNQ.CD.
"The conversation around including altcoins in ETFs in the U.S. only started less than a year ago, after BTC spot ETFs started trading ... whereas BTC spot ETFs had been under discussion for years before gaining the green light."
"As a result, BTC spot ETFs have an established investor base that was built up over several years, while issuers are still working to attract new investors and demand for ETH, and potentially other altcoins, aiming to boost digital asset adoption in the coming months and years."
Bitcoin and ether are the two biggest digital assets, commanding about 55% and 15% of the total cryptocurrency market value, according to data site CoinMarketCap.com.
(Medha Singh)
******
FOR TUESDAY'S OTHER LIVE MARKETS POSTS
RECORD HIGHS WITHOUT BIG TECH LEADERSHIP CLICK HERE
TWO-FER TUESDAY: CONSUMER CONFIDENCE, CASE-SHILLER CLICK HERE
WALL STREET DE-RISKS AHEAD OF NVIDIA EARNINGS CLICK HERE
GLIMMER OF HOPE FOR LIMPING GERMAN ECONOMY CLICK HERE
AUTO PARTS SUPPLIERS POSE INVENTORY RISK FOR EU SEMIS CLICK HERE
GERMAN AUTOS - POP GOES THE DIESEL CLICK HERE
MINERS AND AIRLINES LIFT STOXX CLICK HERE
LACKLUSTRE START IN STORE FOR EUROPE CLICK HERE
RATE CUT RELIEF DOUSED BY GEOPOLITICS CLICK HERE
Weekly bitcoin and ether ETF flows https://tmsnrt.rs/3YVTdMZ
Mga Kaugnay na Asset
Pinakabagong Balita
Disclaimer: Ang mga kabilang sa XM Group ay nagbibigay lang ng serbisyo sa pagpapatupad at pag-access sa aming Online Trading Facility, kung saan pinapahintulutan nito ang pagtingin at/o paggamit sa nilalaman na makikita sa website o sa pamamagitan nito, at walang layuning palitan o palawigin ito, at hindi din ito papalitan o papalawigin. Ang naturang pag-access at paggamit ay palaging alinsunod sa: (i) Mga Tuntunin at Kundisyon; (ii) Mga Babala sa Risk; at (iii) Kabuuang Disclaimer. Kaya naman ang naturang nilalaman ay ituturing na pangkalahatang impormasyon lamang. Mangyaring isaalang-alang na ang mga nilalaman ng aming Online Trading Facility ay hindi paglikom, o alok, para magsagawa ng anumang transaksyon sa mga pinansyal na market. Ang pag-trade sa alinmang pinansyal na market ay nagtataglay ng mataas na lebel ng risk sa iyong kapital.
Lahat ng materyales na nakalathala sa aming Online Trading Facility ay nakalaan para sa layuning edukasyonal/pang-impormasyon lamang at hindi naglalaman – at hindi dapat ituring bilang naglalaman – ng payo at rekomendasyon na pangpinansyal, tungkol sa buwis sa pag-i-invest, o pang-trade, o tala ng aming presyo sa pag-trade, o alok para sa, o paglikom ng, transaksyon sa alinmang pinansyal na instrument o hindi ginustong pinansyal na promosyon.
Sa anumang nilalaman na galing sa ikatlong partido, pati na ang mga nilalaman na inihanda ng XM, ang mga naturang opinyon, balita, pananaliksik, pag-analisa, presyo, ibang impormasyon o link sa ibang mga site na makikita sa website na ito ay ibibigay tulad ng nandoon, bilang pangkalahatang komentaryo sa market at hindi ito nagtataglay ng payo sa pag-i-invest. Kung ang alinmang nilalaman nito ay itinuring bilang pananaliksik sa pag-i-invest, kailangan mong isaalang-alang at tanggapin na hindi ito inilaan at inihanda alinsunod sa mga legal na pangangailangan na idinisenyo para maisulong ang pagsasarili ng pananaliksik sa pag-i-invest, at dahil dito ituturing ito na komunikasyon sa marketing sa ilalim ng mga kaugnay na batas at regulasyon. Mangyaring siguruhin na nabasa at naintindihan mo ang aming Notipikasyon sa Hindi Independyenteng Pananaliksik sa Pag-i-invest at Babala sa Risk na may kinalaman sa impormasyong nakalagay sa itaas, na maa-access dito.