BlackRock’s spot Bitcoin ETF sees record daily net outflow of $333 million By Investing.com
BlackRock's Bitcoin ETF Outflows: BlackRock’s iShares Bitcoin Trust experienced its largest daily outflow of $332.6 million since its launch, marking three consecutive days of withdrawals totaling $392.6 million, despite being one of the top-performing funds in terms of inflows for 2024.
Market Impact on Other ETFs: While BlackRock faced significant outflows, other spot Bitcoin ETFs saw inflows totaling $101 million, and U.S. spot Ethereum ETFs experienced net outflows of $77.5 million, indicating a mixed performance across the cryptocurrency ETF market.
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Ethereum Co-founder Warns of Decentralized Stablecoin Design Flaws
- Design Flaw Warning: Ethereum co-founder Vitalik Buterin highlighted fundamental design flaws in decentralized stablecoins, which could lead to long-term risks and structural weaknesses, undermining user trust and market stability.
- Governance Risk Analysis: Buterin cautioned that financialized governance systems lack defensive asymmetry, potentially incentivizing protocols to engage in high-value extraction for self-protection, which he described as “quite bad for users.”
- Yield Issues: He noted that staking-based stablecoins face low yield rates, with users stuck on “a few percent APY suboptimal return rates” without structural changes, limiting investment appeal.
- Macro Risk Focus: Buterin emphasized the industry's over-reliance on USD tracking and lack of resilience to long-term macro risks, calling for more fundamental architectural innovations to enhance stablecoins' independence and risk mitigation capabilities.
Morgan Stanley Aims to Introduce Crypto Trading on E*Trade by 2026, Focusing on These 3 Coins.
E*Trade's Cryptocurrency Trading Plans: E*Trade currently allows customers to invest in cryptocurrencies only through ETFs but plans to enable direct trading of Bitcoin, Ether, and Solana by 2026 through a partnership with Zerohash.
Market Potential of Targeted Cryptocurrencies: Bitcoin, Ether, and Solana are highlighted for their growth potential, with Bitcoin seen as a hedge against inflation, Ether benefiting from its developer ecosystem, and Solana gaining traction due to its high transaction speeds and developer growth.
Top 5 Sector ETFs with Strongest Performance in August
Stock Market Performance: The S&P 500 and Dow Jones both recorded their fourth consecutive monthly gains in August, with the S&P 500 rising 1.5% and the Dow Jones increasing by 3.2%. The Nasdaq achieved a 1.6% gain, marking its fifth straight monthly rise, while small-cap stocks in the Russell 2000 surged about 7%.
Inflation and Consumer Sentiment: Core inflation was reported at 2.9% in July, raising concerns as it remains above the Fed's 2% target. Consumer sentiment fell to a three-month low in August due to inflation and economic outlook concerns, despite strong expectations for a rate cut by the Fed.
Cryptocurrency and Cannabis Stocks: Ethereum prices surged by 26% in August, driven by institutional demand and staking yields, while cannabis stocks soared following hints from President Trump about potential reclassification of marijuana, with ETFs like Roundhill Cannabis ETF up 83.9%.
Materials and Sector Performance: Various materials ETFs, including those for rare earths and lithium, saw significant gains in August, driven by safe-haven demand and industrial usage. The healthcare sector also performed well, particularly UnitedHealth Group, which boosted related ETFs.
Ethereum ETF (ETHW) Hits New 52-Week High
Bitwise Ethereum ETF Performance: The Bitwise Ethereum ETF (ETHW) has reached a 52-week high, increasing by 187.9% from its low, driven by strong institutional interest and favorable legislation.
Future Outlook for ETHW: Analysts predict Ethereum prices could rise significantly, with ETH potentially reaching $4,800 by late 2025 and over $5,500 in early 2026, supported by growing DeFi activity and a positive weighted alpha indicating further gains for the ETF.
Bitwise's Bitcoin and Ether ETPs to Offer In-Kind Creations and Redemptions, Providing Greater Trading Efficiency to Investors
SEC Approval for Crypto ETPs: The SEC has approved in-kind creation and redemption processes for Bitwise's Bitcoin and Ethereum ETFs, aligning them with traditional asset ETFs and potentially lowering trading costs for investors.
Impact on Investors: While individual investors will not see direct changes, the approval is expected to enhance trading efficiencies, reduce tax exposure, and signify a growing integration of crypto assets into mainstream financial markets.
This New ETF Aims To Turn GameStop's Wild Moves Into Cash
Bitwise GME Option Income Strategy ETF: Bitwise Asset Management launched an options-only fund, IGME, which aims to generate income from GameStop's volatility by writing call and put options without owning shares, targeting a monthly distribution to shareholders.
GameStop's Bitcoin Investment: Following GameStop's acquisition of 4,710 Bitcoins for its treasury, the new ETF combines meme-stock volatility with corporate crypto adoption, appealing to investors seeking a risk-managed approach to capitalize on GameStop's price fluctuations.
Ethereum Co-founder Warns of Decentralized Stablecoin Design Flaws
- Design Flaw Warning: Ethereum co-founder Vitalik Buterin highlighted fundamental design flaws in decentralized stablecoins, which could lead to long-term risks and structural weaknesses, undermining user trust and market stability.
- Governance Risk Analysis: Buterin cautioned that financialized governance systems lack defensive asymmetry, potentially incentivizing protocols to engage in high-value extraction for self-protection, which he described as “quite bad for users.”
- Yield Issues: He noted that staking-based stablecoins face low yield rates, with users stuck on “a few percent APY suboptimal return rates” without structural changes, limiting investment appeal.
- Macro Risk Focus: Buterin emphasized the industry's over-reliance on USD tracking and lack of resilience to long-term macro risks, calling for more fundamental architectural innovations to enhance stablecoins' independence and risk mitigation capabilities.
Morgan Stanley Aims to Introduce Crypto Trading on E*Trade by 2026, Focusing on These 3 Coins.
E*Trade's Cryptocurrency Trading Plans: E*Trade currently allows customers to invest in cryptocurrencies only through ETFs but plans to enable direct trading of Bitcoin, Ether, and Solana by 2026 through a partnership with Zerohash.
Market Potential of Targeted Cryptocurrencies: Bitcoin, Ether, and Solana are highlighted for their growth potential, with Bitcoin seen as a hedge against inflation, Ether benefiting from its developer ecosystem, and Solana gaining traction due to its high transaction speeds and developer growth.
Top 5 Sector ETFs with Strongest Performance in August
Stock Market Performance: The S&P 500 and Dow Jones both recorded their fourth consecutive monthly gains in August, with the S&P 500 rising 1.5% and the Dow Jones increasing by 3.2%. The Nasdaq achieved a 1.6% gain, marking its fifth straight monthly rise, while small-cap stocks in the Russell 2000 surged about 7%.
Inflation and Consumer Sentiment: Core inflation was reported at 2.9% in July, raising concerns as it remains above the Fed's 2% target. Consumer sentiment fell to a three-month low in August due to inflation and economic outlook concerns, despite strong expectations for a rate cut by the Fed.
Cryptocurrency and Cannabis Stocks: Ethereum prices surged by 26% in August, driven by institutional demand and staking yields, while cannabis stocks soared following hints from President Trump about potential reclassification of marijuana, with ETFs like Roundhill Cannabis ETF up 83.9%.
Materials and Sector Performance: Various materials ETFs, including those for rare earths and lithium, saw significant gains in August, driven by safe-haven demand and industrial usage. The healthcare sector also performed well, particularly UnitedHealth Group, which boosted related ETFs.
Ethereum ETF (ETHW) Hits New 52-Week High
Bitwise Ethereum ETF Performance: The Bitwise Ethereum ETF (ETHW) has reached a 52-week high, increasing by 187.9% from its low, driven by strong institutional interest and favorable legislation.
Future Outlook for ETHW: Analysts predict Ethereum prices could rise significantly, with ETH potentially reaching $4,800 by late 2025 and over $5,500 in early 2026, supported by growing DeFi activity and a positive weighted alpha indicating further gains for the ETF.
Bitwise's Bitcoin and Ether ETPs to Offer In-Kind Creations and Redemptions, Providing Greater Trading Efficiency to Investors
SEC Approval for Crypto ETPs: The SEC has approved in-kind creation and redemption processes for Bitwise's Bitcoin and Ethereum ETFs, aligning them with traditional asset ETFs and potentially lowering trading costs for investors.
Impact on Investors: While individual investors will not see direct changes, the approval is expected to enhance trading efficiencies, reduce tax exposure, and signify a growing integration of crypto assets into mainstream financial markets.
This New ETF Aims To Turn GameStop's Wild Moves Into Cash
Bitwise GME Option Income Strategy ETF: Bitwise Asset Management launched an options-only fund, IGME, which aims to generate income from GameStop's volatility by writing call and put options without owning shares, targeting a monthly distribution to shareholders.
GameStop's Bitcoin Investment: Following GameStop's acquisition of 4,710 Bitcoins for its treasury, the new ETF combines meme-stock volatility with corporate crypto adoption, appealing to investors seeking a risk-managed approach to capitalize on GameStop's price fluctuations.
