On Tuesday, there was a big switch in the world of digital money. The Bitcoin funds in the U.S., which are like baskets of digital money, lost money while the Ether funds gained money. This all happened after four days of losing money and was a change from the previous week when money was gaining value before Donald Trump, who wants to be president again, gave a speech.

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• Bitcoin ETFs in the U.S. experience a downturn with $18 million outflows, while Ether ETFs buck the trend with inflows.
• Despite recent positive activity, Ether ETFs have witnessed net outflows exceeding $400 million since their inception.
• Market volatility is expected as traders prepare for major U.S. tech firms’ earnings releases and key macroeconomic events.

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Bitcoin ETFs See $18M Outflows

Bitcoin funds lost $18 million, ending four days of gaining money that had reached its highest point at $124 million. The data from SoSoValue shows that Grayscale’s GBTC had the most significant loss, with $74 million. Other funds from Fidelity, Ark Invest, Bitwise, and VanEck also lost money, from $2 million to $7 million. The only fund that gained money was Blackrock’s IBIT, which earned $75 million.

However, Ether funds broke their losing streak, gaining $33 million. This ended four days of losing money and was only the second day of earning money since they started on July 23. But Ether funds have lost more than $400 million in total. Grayscale’s ETHE lost the most, with $1.84 billion. On the other hand, BlackRock’s ETHA gained the most, with $618 million.

Last week, Bitcoin’s price exceeded $69,000 when Trump spoke at the Bitcoin 2024 conference in Nashville. He said if he becomes president, he would remove the head of the U.S. SEC, Gary Gensler, and make a special Bitcoin reserve. But the digital money fell by 5% on Monday after the U.S. Marshals Service moved $2 billion worth of Bitcoin to two new digital wallets, which made people scared of potential selling off.

People who trade are also preparing for potential price changes as big U.S. tech companies get ready to share their earnings this week. This event is known for changing Bitcoin prices. “While election headlines will keep being important, there are also several big events for the economy coming up,” said QCP Capital in Singapore on Tuesday during a broadcast on Telegram. They said the important events to watch were the FOMC meeting on Wednesday, the earnings from tech giants Apple, Amazon, and Meta during the week, and the unemployment data on Friday.

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