Ethereum ETFs also had a strong week, as the U.S. partial government shutdown adds fuel to the prices of the world's largest cryptocurrencies.
The following article is adapted from The Block’s newsletter, The Daily, which comes out on weekday afternoons.
The daily inflow streak for BlackRock's IBIT surpassed $1 billion on Thursday, contributing to a $2.25 billion run across all Bitcoin ETFs.
The Asian holiday season and U.S. government shutdown may sap liquidity and delay key economic data in early October, according to K33.
The following article is adapted from The Block’s newsletter, The Daily, which comes out on weekday afternoons.
U.S.-listed Bitcoin and Ethereum spot exchange-traded funds collectively attracted more than $1 billion in net inflows on Monday.
Stronger than anticipated macro data hit sentiment in the U.S., CoinShares Head of Research James Butterfill noted.
BlackRock's industry-leading Bitcoin and Ethereum funds held up slightly better than those of Fidelity, its chief rival in the space.
The following article is adapted from The Block’s newsletter, The Daily, which comes out on weekday afternoons.
Earlier today, Ethereum (ETH) slid below the psychologically important $4,000 level for the first time since August 8. The fall in ETH’s price can be attributed to a mix of macroeconomic, structural, and crypto-specific factors. Ethereum Dips Below $4,000, Analyst Explains Why According to a CryptoQuant Quicktake post by contributor Arab Chain, ETH’s latest descent below $4,000 can be blamed on a complex mix of factors. First, a strong US dollar, coupled with the Federal Reserve’s (Fed) cautious stance following its September rate cut, dampened risk appetite. Related Reading: Ethereum Close To Local Bottom? Analyst Flags Drop In Binance Open Interest Furthermore, rising bond yields and the increasing risk of a US government shutdown have spooked investors, discouraging them from investing in risk-on assets, including cryptocurrencies like ETH. Second, the analyst points to the role of leverage in ETH’s latest dip. On September 22, more than $500 million in ETH longs were wiped out within 24 hours, resulting in the unwinding of high leverage that was building up in Q2 2025. During the sell-off, ETH whales faced close to $45 million in forced sales. In addition, low weekend trading volume and shallow order books enhanced ETH’s price swings. Notably, institutional investors turned to OTC redemptions, following the Fed meeting to reduce their exposure to ETH. From a technical perspective, ETH failed to decisively break through the stiff resistance near $4,500 – $4,600. Failure to defend the $4,200 support worsened things for ETH, turning the momentum sharply bearish. The fifth reason was regulatory headwinds surrounding digital assets, especially the uncertainty around MiCA in the EU and US crypto legislation. ETH exchange-traded fund (ETF) outflows worth $76 million weighed on investor sentiment. Finally, a surge in validator exit queues and reduced staking inflows weakened natural buy-side support. Other factors, such as seasonal weakness and Bitcoin’s (BTC) rising dominance in the market, contributed to ETH’s sell-off. Arab Chain concluded: While this correction reflects structural positioning and macro forces rather than a broken thesis, volatility may persist until liquidity returns and regulatory clarity improves. Will ETH Stage A Recovery? While the momentum is against ETH currently, some analysts are optimistic about a turnaround in ETH’s fortunes in the coming months. For instance, ETH’s CME futures open interest is inching closer to new highs, setting a new potential target for ETH of $6,800 by the end of 2025. Related Reading: Ethereum Rally Stalls As Spot And Perpetual Volumes Flatten On Binance Similarly, the surge in ETH contracts throughout the year has some analysts convinced that the digital asset may soon embark on a rally to $5,000. ETH’s illiquid supply could further propel it to new highs. In his latest analysis, crypto commentator Ted Pillows predicted that the increase in global M2 money supply could pave the way for $20,000 ETH. At press time, ETH trades at $3,959, down 3.6% in the past 24 hours. Featured image from Unsplash, chart and TradingView.com
The SEC needs more time to review applications to allow staking for the Ethereum ETFs issued by BlackRock, Fidelity and Franklin Templeton.
GSR is expanding into the digital asset treasuries space with a new exchange-traded fund proposal submitted to the SEC.
The shift toward ETF-based exposure presents both opportunities and trade-offs for the Ethereum ecosystem.
Although investors initially reacted cautiously to the "hawkish cut," inflows resumed later in the week, CoinShares' James Butterfill said.
Grayscale has filed an amended S-1 in its latest move to convert its closed-ended Dogecoin trust into an exchange-traded fund.
The SEC approved on an "accelerated basis" listing standards for crypto ETFs, setting the stage for those products to be ready for trading.
Proposed SEC generic listing standards for crypto ETPs could "blow the market wide open," according to Bitwise CIO Matt Hougan.
Weaker-than-expected U.S. data helped sentiment recover amid the increased likelihood of rate cuts, Head of Research James Butterfill noted.
Kronos Research CIO Vincent Liu said strong inflows indicate renewed confidence among institutional investors.
Bitcoin ETFs draw $757 million in flows while ETH ETFs bring in $171.5 million.
SEC Chairman Paul Atkins has been vocal in his support of digital assets but his agency continues to punt on many ETFs.
Scaled for size, a relatively small amount of flows into Solana could significantly impact prices in the months ahead, Matt Hougan said.
Weaker payroll figures and improving U.S. rate cut prospects failed to bolster sentiment, Head of Research James Butterfill said.
The ETH price rallied terrifically in August, setting a new all-time high near $4,900, after it broke out of the $3,700 to $4,000 supply range. The rally was fueled by massive ETF inflows, whale activity, and tightening supply conditions. Now, in Q3’s last month, the once supply is now acting as a support area, and …
Ahead of this month's FOMC meeting, traders look to the nonfarm payroll data release on Friday, an important inflation indicator.
The following article is adapted from The Block’s newsletter, The Daily, which comes out on weekday afternoons.
This comes after Ethereum ETFs outperformed bitcoin ETFs in August, as analysts pointed to a 'rotational shift' toward Ethereum.
Ethereum-based funds led the inflows with another $1.4 billion, while Bitcoin investment products added $748 million.
August saw $751M exit U.S. Bitcoin ETFs even as Ethereum funds pulled in nearly $4B, underscoring diverging institutional appetites as BTC stalls
Spot Bitcoin and Ethereum ETFs closed the week on a weak note, as investors pulled funds after the Federal Reserve reported an uptick in core inflation. According to SoSoValue, Ethereum ETFs saw $164.64 million in net outflows on Friday, ending a five-day streak of strong inflows that had brought in more than $1.5 billion. Meanwhile, …