On Thursday, US spot Ethereum exchange-traded funds recorded net outflows of approximately $39 million, marking the third consecutive day of capital withdrawals. Meanwhile, XRP exchange-traded funds saw outflows of about $5 million, reversing the modest inflows from the previous day. In contrast, Bitcoin exchange-traded funds attracted inflows of roughly $159 million, with the cryptocurrency climbing over 1% to trade near $77,216.
On the same day, US equities and bonds advanced while oil prices declined. Market data revealed that Ethereum funds saw outflows of approximately $224 million on Wednesday and $141 million on Tuesday, even as Ether gained 2% during the same period to hover around $2,470.
The sole US Zcash fund attracted nearly $47 million in new capital, marking its strongest performance in a month, with cumulative inflows exceeding $230 million so far this month. Over the past 30 days, Ethereum funds have maintained net inflows of more than $1.5 billion, while Bitcoin funds have seen nearly $2.5 billion in net inflows.
Among major cryptocurrencies, Zcash led the gains, surging 10% to approximately $1,488. Hyperliquid's HYPE token advanced nearly 10% to above $86. Solana climbed 5% to near $105, while BNB rose nearly 4% to around $750. Dogecoin gained approximately 4%, while both Ethereum and XRP each advanced 2%. Bitcoin rose over 1% to roughly $77,216, while TRON remained nearly flat.
On the macroeconomic front, the day after the Federal Reserve's first rate hike since 2023, falling oil prices fueled simultaneous gains in both stocks and bonds. The S&P 500 rose approximately 1%, marking its biggest advance in six weeks, while the Nasdaq 100 gained nearly 2%. A gauge of chipmakers climbed 3%. The 10-year US Treasury yield declined, breaking an eight-day winning streak, while the dollar held steady and gold advanced. Brent crude settled below $105 per barrel.
The decline in oil prices helps alleviate the inflationary pressures that prompted the Fed's rate hike, allowing bonds to rally alongside stocks rather than in opposition. This week, cryptocurrencies have moved in tandem with equity markets, with major coins tracking index movements rather than leading them. The Zcash fund attracted inflows during a period of outflows from the two major crypto ETFs, and market watchers will be closely monitoring whether this trend can persist into next week.
Comments