Ethereum ETFs showed no activity on Friday, a first since US spot crypto ETFs launched

Quick Take

Data from Farside revealed that the Bitcoin market experienced its fourth consecutive day of outflows, totaling $479.8 million for the period. Aug. 30 alone saw an outflow of $175.6 million across various Bitcoin ETFs. Among the most notable were Fidelity’s FBTC, which saw outflows of $12.9 million, Bitwise’s BITB with $16.4 million, ARK’s ARKB with $65 million, Invesco’s BTCO with $11.1 million, and Grayscale’s GBTC with a substantial $70.2 million. Despite these outflows, total ETF inflows stand at $17.6 billion.

Farside data shows that in contrast to Bitcoin ETFs, Ethereum ETFs showed no activity on Aug. 30, with neither inflows nor outflows recorded across all issuers. This has not occurred before on any day since the Bitcoin ETFs were launched.

In terms of market performance, Bitcoin ended August with a 9% decline, while Ethereum fared worse, dropping 22%. The ETH/BTC ratio now hovers just above 0.043, with Bitcoin’s dominance in the market reaching over 57%, nearing new year-to-date highs. These trends underscore the growing dominance of Bitcoin in the current market environment.

Analyst

James Van Straten

Former Lead Analyst at CryptoSlate

James fervently appreciates data, technology, and trend-spotting. As a tech and liberty maximalist, he hails Bitcoin as the 21st century's paramount invention.

@jvs_btc LinkedIn Email James

Latest Insights

92% of Bitcoin exchange inflows come from short-term holders

Data via Farside Investors 51 mins ago

Bitcoin is the best asset to protect against Brazil’s 13% yearly currency depreciation

11 hours ago

Bitcoin options volume shows short-term indecision, long-term optimism

Data via Farside Investors 14 hours ago

Latest Alpha Market Report

Available exclusively via

Bitcoin’s historical performance: September dips and year-end rallies

Andjela Radmilac · 4 days ago

CryptoSlate's latest market report dives deep into Bitcoin's historical monthly and quarterly returns, focusing on the period between 2013 and 2024 to assess the likelihood of a similar pattern unfolding in 2024.