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Ethereum ETFs (exchange-traded funds) posted their highest net daily outflows in a month, extending their negative streak to five days.  According to data from Farside Investors, $446.8 million left the funds’ reserves on Sept. 5, the largest net daily outflow since Aug. 4, when $465.1 million flowed out of the products.  BlackRock’s Spot Ethereum ETF Takes The Biggest Blow The ETH ETF that saw the largest net daily outflow was BlackRock’s ETHA. Investors withdrew $309.9 million from the ETF on Sept. 5. It had chalked up an inflow of $148.8 million a day earlier. Fidelity’s FETH, 21Shares’ TETH, and both Grayscale’s ETHE and ETH funds also recorded outflows. Grayscale’s ETHE suffered the second-biggest daily outflow, with $51.8 million exiting the fund, while the asset manager’s ETH product saw $32.6 million leave its reserves. Meanwhile, Fidelity’s FETH recorded $37.8 million in outflows and investors pulled $14.7 ...

XRP is witnessing a notable decline in investor confidence, with its market capitalization dropping by over $16 billion in the past week. This downturn coincides with the U.S. Securities Exchange Commission’s (SEC) decision to postpone its ruling on 21Shares’ proposed spot XRP exchange-traded fund (ETF), as outlined in a filing on May 20. A week ago, XRP’s market capitalization stood at $153.56 billion. As of press time, the figure has fallen to $137.45 billion, a decline of $16.11 billion.  The token is currently trading at $2.34, reflecting a price drop of nearly 10% over the same period. XRP market cap chart. Source: CoinMarketCap SEC delays spot ETF approval In announcing the delay, the SEC stated it would extend the review period to assess whether the proposed 21Shares Core XRP Trust complies with Section 6(b)(5) of the Exchange Act.  This provision mandates that ETF products implement adequate safeguards against fraud an...

A cryptocurrency whale has sold off tens of millions of dollars worth of Solana (SOL) since the year started, on-chain data shows. According to blockchain tracker Lookonchain, the whale initially sold the first batch of SOL on January 15th. Over the ensuing weeks and months, the whale unloaded 614,000 SOL worth $89 million on Coinbase, OKX and Binance crypto exchanges, per on-chain data. Source: Lookonchain/X The whale has averaged one sale per week, according to Lookonchain. Source: Lookonchain/X Looking closer at on-chain data, it appears that a stash of approximately 100,000 SOL was withdrawn from staking platforms over the last 30 days before being deposited into the three crypto exchanges. Source: Lookonchain/X SOL is trading at $142.66 at time of writing. In a new report, digital assets manager CoinShares says that Solana institutional crypto investment products witnessed millions of dollars in outflows last week. “ Solana saw outflows of US$39 milli...

Bitcoin ETFs ended their 10-day streak of net inflows yesterday. The $154 million in net outflows coincided with a 6% decline in bitcoin’s price for the day, as well as a flash crash in the BTC/USDT pair to $8,900 on BitMEX. After $12 billion in net in flows since the SEC’s spot Bitcoin ETF approvals on January 11th, with $4.8 billion in the prior two weeks alone, Monday’s activity appears to have spooked Bitcoin investors, including ETF buyers. US-listed ETFs have become major holders of bitcoin, with some $60 billion in combined funds under management. As usual, Grayscale’s legacy fund GBTC led the outflows, siphoning $642.5 million out of the bitcoin ETF market. This dragged down $488.1 million in otherwise net positive flows of funds into bitcoin ETFs by BlackRock, Fidelity, Bitwise, WisdomTree, Ark, Invesco, Franklin, and VanEck. Explained: How bitcoin market sell orders cause flash crashes Read more: Explained: How bitcoin market sell orders cause flash crashes...

Binance faces significant user fund outflows and a drop in BNB value following the DoJ’s criminal charges and CEO Changpeng Zhao’s potential departure. Binance is seeing significant outflows from its exchange following the earlier news of the U.S. DoJ charging the leading exchange with three major crimes. Nansen, a blockchain analytics firm, reported a noticeable outflow from the exchange, as investors are withdrawing funds . Specifically focusing on the Ethereum ERC-20 network, Nansen observed a startling increase in net outflows, escalating from $10,000 to a staggering $45 million within just an hour. Since our first update on @binance, it appears that users are withdrawing funds from the exchange based on market rumors Netflow has gone from -$10K to -$45M over the past hour (Ethereum only)https://t.co/SikCRA6zl2 pic.twitter.com/cShuIJ76DN — Nansen (@nansen_ai) November 21, 2023 More details about Binance’s charges are set to be revealed today, as the DoJ is hol...

Blockchain equities inflows reached a recent high of $15 million as well. However, total trading volume dropped. A third straight week of positive digital asset inflows has fully corrected nine previous weeks of outflows for the market, according to a report from CoinShares published on July 10.  This week’s inflows registered $136 million. Bitcoin (BTC) funds continued their trend of holding the anchor position, with 98% of the inflows coming from BTC. The other 2% mostly came from Ether (ETH), multi-asset holdings, and a handful of altcoins. Source: Screenshot, CoinShares  After nine weeks where digital asset outflows outpaced inflow s, this third consecutive week of positive movement brings the current streak’s total to $470 million. According to Coinshares, this total fully corrects for the previous outflow streak. This brings the last 3 consecutive weeks inflows to US$470m, fully correcting the prior 9 weeks of outflows. Trading turnover has slowed though, which might be expla...