U.S.-listed spot bitcoin and ether exchange-traded funds (ETFs) suffered heavy redemptions on Thursday, with nearly $1 billion yanked in single session as crypto prices slid sharply and risk appetite evaporated. According to SoSoValue data, investors withdrew $817.9 million from U.S. spot bitcoin ETFs on Jan. 29, the largest daily outflow since Nov. 20. Ether ETFs also saw sustained selling, losing $155.6 million on the day. (SoSoValue) The outflows coincided with a sharp drop in crypto prices. Bitcoin ...

Core Insights - Morgan Stanley has filed a Form S-1 registration statement for a Morgan Stanley Ethereum Trust, indicating a strategic move into the U.S. crypto market and signaling broader interest from Wall Street in spot crypto products beyond Bitcoin [1][3] - The trust is designed to hold ether on behalf of investors, with Morgan Stanley Investment Management acting as the depositor and CSC Delaware Trust Company as the trustee [2] Market Overview - As of January 6, Ethereum spot ETFs have recorded $1.72 billion in daily trading volume and hold a total of $20.06 billion in net assets, representing over 5% of Ethereum's total market capitalization [3] - BlackRock's ETHA leads the sector with $11.58 billion in assets, accounting for nearly 3% of Ethereum's market cap, and has a daily trading volume exceeding $1 billion [3] Competitive Landscape - Grayscale's ETHE has experienced significant outflows, with over $5 billion leaving the fund, while its lower-fee ETH product and Fidelity's FETH have shown stronger long-term inflows, highlighting the importance of fee sensitivity and liquidity for investors [4] - Morgan Stanley's filing follows a trend among major asset managers, as firms like Grayscale and VanEck have historically transitioned from trusts to spot ETFs, with BlackRock and Fidelity launching spot Ether ETFs in July 2024 after SEC approval [5] Strategic Implications - The filing is viewed as foundational groundwork for Morgan Stanley, suggesting a potential future transition to an exchange-traded product as regulatory conditions evolve [6] - The timing of the filing aligns with Morgan Stanley's broader initiatives in the cryptocurrency space, indicating a commitment to expanding its offerings in this sector [6]

On December 9 (ET), Bitcoin spot ETFs recorded $152 million in total net inflows, with Fidelity’s FBTC leading at $199 million. Ethereum spot ETFs saw $178 million in total net inflows, led by Fidelity’s FETH with $51.47 million. Solana spot ETFs posted $16.54 million in net inflows, with the largest single-day inflow coming from Bitwise’s SOL ETF (BSOL) at $7.78 million. https://t.co/rbT9YeUa8a ...

Spot ETF Inflow - Bitcoin spot ETFs recorded a total net inflow of $202 million, marking the fourth consecutive day of inflows [1] - Ethereum spot ETFs experienced a total net inflow of $246 million [1] Leading Fund - Fidelity's FETH led Ethereum spot ETFs with a net inflow of $99.271 million [1]

Market Sentiment - The anticipated "Uptober" rally is being tested as Bitcoin and Ethereum spot ETFs experience significant outflows, impacting the previously bullish market sentiment [1][2] - Ethereum spot ETFs recorded $145.68 million in net outflows on October 20, marking the third consecutive day of withdrawals [1][3] - Bitcoin spot ETFs saw a net outflow of $40.47 million, extending their losing streak to four days [1][2] Ethereum ETF Performance - Ethereum ETFs are experiencing a notable shift in sentiment, with substantial capital being withdrawn after a period of strong inflows earlier in the month [3][5] - The total assets under management (AUM) for Ethereum ETFs have decreased to $26.83 billion, which is approximately 5.56% of Ethereum's total market capitalization [3][4] - The largest withdrawal was from BlackRock's Ethereum ETF (ETHA), which lost $117.86 million, followed by Fidelity's FETH with $27.82 million in redemptions [4] Cumulative Inflows and Market Dynamics - Despite recent outflows, cumulative net inflows for Ethereum spot ETFs remain at $14.45 billion since their inception [4] - The recent turbulence has erased part of the gains from early October's mini rally, which had pushed total inflows close to $15 billion [5] - Analysts suggest that the retreat in demand may be linked to a cooling interest among large Ethereum treasury holders [5][6] Investor Behavior and On-Chain Data - Entities like Sharplink and Bit Digital have reportedly slowed their accumulation pace, indicating growing unease regarding Ethereum's short-term price outlook [6] - Significant movements of ETH from the Ethereum Foundation and PulseChain Sacrifice wallets have raised speculation about internal repositioning among key holders, potentially increasing selling pressure [6]

Core Insights - Ethereum whales are actively accumulating ETH after a recent market dip, raising questions about whether this is a buying opportunity or a temporary bounce [1] - BitMine Immersion Technologies has significantly increased its ETH holdings to over 3.03 million, representing approximately 2.5% of the total supply [2][3] - The recent sell-off was driven by leverage and external factors, leading to forced liquidations across exchanges [3] Group 1: Market Activity - BitMine's recent purchase of around 202,000 ETH, valued at approximately $827 million, has contributed to its goal of owning 5% of the total ETH supply [3] - Ethereum's price has seen a recovery, trading near $4,300 with a 3.7% increase in the last 24 hours, although it remains below recent highs [2] - A major wallet repurchased 7,817 ETH for about $32.5 million shortly after the market drop, indicating strong buying interest [4] Group 2: Institutional Movements - US spot Ether ETFs experienced net outflows, with BlackRock's ETHA and Fidelity's FETH leading the losses, suggesting large holders may be acquiring coins released by these ETFs [5] - Derivatives markets are stabilizing, with funding rates across major exchanges dropping to their lowest levels since 2022, reflecting reduced leverage [6] Group 3: Market Predictions - Ethereum's market structure is showing a bullish setup as the year progresses, indicating potential positive price movements [6] - A correlation has been noted between Ethereum's price and the global M2 money supply, suggesting macroeconomic factors may influence ETH's performance [7]

Core Insights - U.S. spot Bitcoin ETFs experienced significant inflows, totaling $197.8 million on October 9, indicating renewed institutional interest as Bitcoin approaches record highs [1] - Cumulative totals for U.S. Bitcoin spot ETFs reached $62.77 billion, with total net assets at $164.79 billion and daily trading volume at $5.32 billion [1] - Bitcoin ETFs now account for approximately 6.8% of Bitcoin's total market capitalization, highlighting their increasing importance in institutional portfolios [2] Bitcoin ETF Market Dynamics - BlackRock's iShares Bitcoin Trust (IBIT) led the inflows with $255.47 million, solidifying its market dominance with total assets exceeding $97 billion [3] - In contrast, Fidelity's Wise Origin Bitcoin Fund (FBTC) experienced outflows of $13.19 million, while Grayscale's GBTC reported withdrawals of $45.55 million [3] - The momentum for Bitcoin ETFs follows a strong inflow session earlier in October, with a peak of $1.19 billion on October 6, where BlackRock contributed over 80% of the inflows [4] Institutional Demand and Market Trends - October marks Bitcoin's best month since summer, driven by institutional investor demand amid expectations of favorable regulatory developments and a strong earnings season [5] - Ethereum ETFs faced a reversal with $8.7 million in outflows on October 9, ending an eight-day inflow streak after attracting over $1.8 billion in cumulative inflows previously [5] - Total assets for Ethereum spot ETFs reached $29.9 billion, with trading volume at $2.34 billion, while BlackRock's ETHA fund led inflows with $39.29 million [6] Ethereum Market Performance - Ethereum was trading at $4,352, down 2.3% on the day and 3.2% over the past week, remaining about 12% below its August peak of $4,946 [7] - Spot trading volumes for Ethereum were robust at $40.4 billion over the past 24 hours, a 9% increase from the previous day, while futures activity rose 21.5% to $93.6 billion, indicating continued trader engagement despite ETF inflow pauses [7]

Core Insights - Ethereum exchange-traded funds (ETFs) experienced their largest weekly outflows to date, totaling nearly $800 million as the crypto market declined [1][3][9] Ethereum ETFs - Spot Ethereum ETFs recorded $795.6 million in net outflows for the week ending September 26, surpassing the previous record of $787.7 million [3][9] - The largest withdrawals were from Fidelity's FETH, which saw over $362 million in outflows, and BlackRock's ETHA, which lost over $200 million but still holds more than $15.2 billion in total assets [4][9] - Ethereum prices briefly fell below $4,000, leading to significant redemptions from funds, marking the worst two-day outflow period since mid-August [5][9] Bitcoin ETFs - Bitcoin ETFs also faced substantial outflows, with a total of $902.5 million leaving the funds during the same week [6][9] - BlackRock's IBIT fund managed to limit its losses to $37.3 million on a particularly volatile day, maintaining a dominant market share of approximately 80% among spot Bitcoin ETFs [6][7] Solana ETFs - Several major asset managers, including Fidelity and Franklin Templeton, have filed for spot Solana ETFs, indicating growing institutional interest [8] - ETF analysts anticipate that the US SEC may approve these filings by mid-October, which could be a significant development for digital asset products [8]

Core Insights - Bitcoin exchange-traded funds (ETFs) experienced a significant rebound on September 24, with net inflows of $241 million following two days of withdrawals totaling $683 million [1][3][4] Group 1: Bitcoin ETF Performance - BlackRock's iShares Bitcoin Trust (IBIT) led the inflows on September 24 with $128.9 million, bringing its cumulative net inflows to $60.78 billion and total net assets to $87.2 billion [2] - Ark Invest and 21Shares' ARKB followed with $37.7 million in net inflows, raising its historical total to $2.18 billion [2] - Cumulative inflows for Bitcoin ETFs reached $57.49 billion, with total assets now at $149.7 billion, representing 6.62% of Bitcoin's total market capitalization [3][6] Group 2: Ethereum ETF Performance - Ethereum ETFs continued to face outflows, recording $79.4 million in net redemptions on September 24, with Fidelity's FETH leading the outflows at $33.2 million [4][5] - Cumulative inflows for Ethereum ETFs stand at $13.6 billion, while total assets are at $27.4 billion, representing 5.45% of Ethereum's total market value [6]

Core Insights - Bitcoin and Ethereum exchange-traded funds (ETFs) experienced significant outflows, totaling $244 million on September 23, following a $439 million exit the previous day, indicating a trend of investor withdrawals amid market repositioning around the Federal Reserve's recent rate cut and upcoming U.S. inflation data [1][5]. Group 1: ETF Outflows - Bitcoin spot ETFs recorded net outflows of $103.6 million on September 23, with Fidelity's FBTC leading the withdrawals at $75.6 million, followed by ARK 21Shares' ARKB with $27.9 million [2]. - Ethereum ETFs faced even larger redemptions, with $140.7 million flowing out in a single day, primarily driven by Fidelity's FETH, which accounted for $63.4 million in outflows [3][4]. - On September 22, Bitcoin products lost $363 million, with Fidelity's FBTC again leading the redemptions at $276.7 million, while Ethereum funds saw $76 million withdrawn [4]. Group 2: Current ETF Holdings - As of September 23, Bitcoin spot ETFs hold $147.2 billion in net assets, representing 6.6% of Bitcoin's total market capitalization, with cumulative inflows of $57.25 billion [5]. - Ethereum spot ETFs currently hold $27.5 billion in net assets, accounting for 5.45% of the total Ethereum market, with cumulative inflows reaching $13.7 billion [5]. Group 3: Recent Market Activity - The recent outflows occurred just one week after digital asset products saw nearly $1.9 billion in inflows, following the Federal Reserve's first interest rate cut of 2025, which had previously spurred renewed investor demand for crypto exposure [5][6]. - During the week prior to the outflows, Bitcoin funds attracted $977 million, while Ethereum products recorded $772 million, marking a year-to-date record of $12.6 billion for Ether-backed products [6].