Wall Street Bitcoin (BTC) and Ethereum (ETH) Net Inflows

Wall Street is gaining an increased protagonism in Bitcoin (BTC) and Ethereum (ETH) investment and trading activities with the ETFs.

Wall Street has been showing increasing interest in Bitcoin (BTC) and Ethereum (ETH) through ETFs. This week, these cryptocurrency exchange-traded funds shifted tens of millions of dollars while either buying or selling the underlying cryptocurrencies.

Finbold retrieved data from CoinGlass on August 17, covering the week from Monday, 12, to Friday, 16.

In total, Bitcoin spot ETFs added $32.4 million of BTC to their holdings, indicating a positive demand on Wall Street. At the same time, Ethereum spot ETFs subtracted $14.10 million worth of ETH this week, putting pressure on the leading Web3 token.

However, a Lookonchain report on X shows a different picture in the results of the last seven trading days. Bitcoin ETFs sold 5,293 BTC, valued at $307.97 million, while Ethereum ETFs bought 2,846 ETH, valued at $7.32 million – when adding two more days (August 8 and 9) to this week’s five.

Wall Street’s Bitcoin and Ethereum net inflows covered

Returning to this week’s activity on CoinGlass, Bitcoin spot ETFs added 604.56 BTC in five days. Only one day, August 14, saw accumulated outflows, totaling 1,340 BTC leaving the funds.

Grayscale’s GBTC is still the main selling entity, offloading over 3,319 BTC to retail, valued at $195.2 million. BlackRock’s (NYSE: BLK) iShares Bitcoin trust (IBIT) is once again the main buying entity, adding over 1,210 BTC.

On the other hand, Ethereum spot ETFs sold 5,690 ETH since August 12, with three positive and two negative trading days. Grayscale’s ETHE is also the main source of outflows, while BlackRock’s is also the main source of inflows.

Bitcoin (BTC) and Ethereum (ETH) price analysis covered

It is worth noting that Ethereum has slightly outperformed Bitcoin in the last seven days.

At the time of writing, ETH trades at $2,605.78, down 0.57% in a week, while BTC trades at $59,220, down 2.30% in the same period. It has been a bearish week for the cryptocurrency market, which is partially reflected in Wall Street’s trading.

In other news, Solana (SOL) spot ETF filings were withdrawn from the Chicago Board Options Exchange (Cboe) this Saturday. Investors and commentators speculate on a possible withdrawal by the issuers, suggesting that SOL will not see its exchange-traded funds approved anytime soon. Finbold covered this development with a price analysis on August 17.

BlackRock has previously indicated a lack of interest in cryptocurrencies other than Bitcoin and Ethereum, which is reflected on Wall Street. The market now continues to watch further developments and related news for the next week.

Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.

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