This month, about $319 million exited the Bitcoin ETFs investment. This influence spread to Spot Ethereum ETFs, which lost over $5 million. In the face of such bearish sentiment for Bitcoin and Ethereum ETFs, a new DeFi innovation rises in the ETF market: ETFSwap (ETFS).
Bitcoin (BTC) and Ethereum (ETH) Face Bearish Sentiment
According to a report from CoinShares, a total of $319 million was pulled out from Spot Bitcoin ETFs just after “short Bitcoin ETFs investment” increased by $4.4 million. Short Bitcoin ETFs investment here signifies the capital investors are placing on the expectation that the price of Bitcoin (BTC) will decline.
Alongside Spot Bitcoin ETFs, Ethereum ETFs also experienced significant losses, amounting to $5.7 million. Coinshares revealed that the reason for the recent outflows in Bitcoin ETFs and Spot Ethereum ETFs is primarily due to negative sentiment generated from “stronger than expected economic data in the United States.”
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Investors of both Bitcoin Spot ETFs and Ethereum ETFs have been notably pulling out at a time when robust US economic data has made it less likely that the Federal Reserve will cut down interest rates. As a result, the appeal and demand for Bitcoin and Ethereum ETFs have grossly decreased.
CoinShares further added Bitcoin ETFs and Spot Ethereum ETFs will become “increasingly sensitive” to interest rate expectations as investors weigh their options in a high-interest rate environment.
ETFSwap (ETFS) Sees Rising Interest in Its Innovative Platform
ETFSwap (ETFS) is an innovative platform with a fully decentralized trading system and highly advanced features that allow investors to trade tokenized ETFs seamlessly. To leverage blockchain technology for its trading operations, ETFSwap (ETFS) has partnered with MiCA-regulated licensed banks as part of its regulatory compliance, enhancing trust and credibility for investors.
This platform aims to empower investors with diverse ETF offerings across various sectors, including commodities, fixed-income, leveraged, and cryptocurrency ETFs. ETFSwap (ETFS) also allows investors to stake the ETFSwap’s native token, ETFS, allowing investors to earn up to 36% in passive income.
To ensure optimal security, ETFSwap’s smart contracts have been audited by CyberScope— a leading blockchain audit firm for cybersecurity. Further tightening its privacy and transparency rules, the ETFSwap (ETFS) team recently completed its KYC verification process with SolidProof, ensuring users can easily access its secure ETF trading space.
ETFSwap (ETFS) also provides exciting incentives for investors, including low trading fees, early access to new ETF listings, leverage across all listed ETFs, and APR yield. With these trading advantages, ETFSwap (ETFS) is poised for a massive increase in user adoption.
The ETFSwap (ETFS) platform aims to revolutionize the ETF trading market, as such it has been equipped with AI-powered trading tools that assist traders with real-time market data, trading recommendations, and many more amazing features.
The platform has received over $3.6 million in inflows into ETFSwap (ETFS), with 500 million tokens purchased in just a few weeks.
Conclusion
Despite the demand for Ethereum ETFs and Spot Bitcoin ETFs lagging behind, other innovative crypto projects exist. ETFSwap (ETFS) stands to become one of the most adopted presale projects in the crypto market due to its innovative approach to trading ETFs. The current price of its native token, ETFS, sits at $0.03846. However, as demand for the token rises, ETFS is anticipated to increase during its next presale.
For more information about the ETFS Presale:
Visit ETFSwap Presale
Join The ETFSwap Community
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