Odaily星球日报讯 摩根大通周三在一份研究报告中表示，自上个月推出以来，以太坊现货交易所交易基金总体上出现了净流出，而今年早些时候推出的现货比特币 ETF 则更为成功。以太坊基金的净流出量约为 5 亿美元，而比特币 ETF 的净流入量超过 50 亿美元。 该银行表示，以太坊 ETF 的疲软数据在某种程度上是意料之中的，并指出比特币的“先发优势”、缺乏质押以及较低的流动性意味着对机构投资者的吸引力较小。

Odaily星球日报讯 摩根大通周三在一份研究报告中表示，自上个月推出以来，以太坊现货交易所交易基金总体上出现了净流出，而今年早些时候推出的现货比特币 ETF 则更为成功。以太坊基金的净流出量约为 5 亿美元，而比特币 ETF 的净流入量超过 50 亿美元。该银行表示，以太坊 ETF 的疲软数据在某种程度上是意料之中的，并指出比特币的“先发优势”、缺乏质押以及较低的流动性意味着对机构投资者的吸引力较小。

摩根大通：以太坊ETF由于缺乏质押、“先发优势”以及低流动性导致吸引力较小

According to a research report released by JPMorgan Chase on Wednesday, since its launch last month, the overall spot Ethereum exchange-traded fund (ETF) has experienced net outflows, while the spot Bitcoin ETF launched earlier this year has been more successful. The net outflow of Ethereum funds is around $500 million, while the net inflow of Bitcoin ETF exceeds $5 billion. The bank stated that the weak data of the Ethereum ETF was to some extent expected, and pointed out that Bitcoin's "first-mover advantage", lack of staking, and relatively lower liquidity mean that it is less attractive to institutional investors.

Odaily Chase said in a research note on Wednesday that Ethereum spot exchange-traded funds have generally seen net outflows since their launch last month, while spot Bitcoin ETFs launched earlier this year have been more successful. Ethereum funds saw net outflows of about $500 million, while Bitcoin ETFs saw net inflows of more than $5 billion. The bank said the weak data for Ethereum ETFs was somewhat expected, noting that Bitcoin&#39;s &quot;first-mover advantage,&quot; lack of collateral, and lower liquidity meant it was less attractive to institutional investors.

JPMorgan: Ethereum ETFs are less attractive due to lack of collateral, "first-mover advantage" and low liquidity

According to the latest research report by Citigroup Bank, the cryptocurrency market has been performing weakly since the launch of the Ethereum spot ETF in the US on July 23. The report shows that Bitcoin and Ethereum spot ETFs have experienced net outflows in the past month, indicating a significant decline in cryptocurrency demand. Search interest and network activity are also in a slump, and the futures funding rate turned negative at times in August. Citigroup analyst David Glass stated that ETF fund flows may remain sluggish until the prospect of a "soft landing" or "hard landing" of the US economy becomes clear. Notably, the stablecoin market has been growing against the trend, with its supply continuing to rise during the market adjustment in August. Citigroup believes this trend reflects the complexity of the cryptocurrency market and the differentiated attitudes of investors towards different crypto assets.

Citibank: Since the launch of the Ethereum spot ETF, the overall cryptocurrency market has performed weakly

According to data statistics from SoSo Value, the net capital outflow of the US Bitcoin spot exchange-traded fund (ETF) yesterday (27th) was approximately $127 million, returning to a net outflow state after eight consecutive trading days of capital inflows.
[2024 08 28 204348] Daily capital flow of US Bitcoin spot ETF (Source: SoSo Value)
The capital outflow of the Bitcoin spot ETF yesterday was mainly led by the ARKB fund co-issued by AR Investment (Ark) and 21Shares,...

The U.S. Bitcoin ETF stopped its 8-day net inflow trend, and Ark Investment and 21Shares’ ARKB saw a net outflow of nearly $102 million.

According to SoSoValue data, the total net outflow of Ethereum spot ETFs was $3.4452 million on August 27th (Eastern Time). On the same day, the Grayscale Ethereum Trust ETF ETHE had a net outflow of $9.1798 million, and the total historical net outflow of ETHE is $2.551 billion. The Grayscale Ethereum Mini Trust ETF ETH had a net outflow of $0.00 on the same day, and the total historical net inflow of the Grayscale Ethereum Mini Trust ETH is $236 million. The Ethereum spot ETF with the highest single-day net inflow was Fidelity ETF FETH, with a net inflow of $3.8792 million, and the total historical net inflow of FETH has reached $392 million. The next was Bitwise ETF ETHW, with a single-day net inflow of $1.8554 million, and the total historical net inflow of ETHW has reached $314 million. As of the time of writing, the total net asset value of Ethereum spot ETFs is $7.183 billion, and the ETF net asset ratio (market value to Ethereum's total market value) has reached 2.31%, with a cumulative historical net outflow of $481 million.