Five Things to Know in Crypto This Week: Spot ETF Inflows and the US Economy

US BTC-Attach of abode ETF Market Records Weekly Outflows

Within the week ending August 16, the US BTC-location ETF market saw total score inflows of $12.9 million, excluding drift files for iShares Bitcoin Belief (IBIT). The US BTC-location ETF market saw score outflows of $167.0 million the earlier week.

Per Farside Patrons:

• Grayscale Bitcoin Belief (GBTC) reported score outflows of $195.2 million within the week ending August 16 (earlier week: -$391.8 million).
• ARK 21Shares Bitcoin ETF (ARKB) reported score inflows of $35.9 million.
• Bitwise Bitcoin ETF (BITB) had score inflows of $11.8 million.
• iShares Bitcoin Belief (IBIT) saw score inflows of $50.7 million (Monday to Thursday).
• Fidelity Wise Beginning build Bitcoin Fund (FBTC) had score inflows of $82.1 million (PW: -$77.1).
• Grayscale Bitcoin Mini Belief (BTC) saw score inflows of $21.6 million.

The obvious sentiment toward the US economy and inflows into US BTC-location ETFs helped counteract the oversupply dangers.

SEC vs. Ripple: Chief Appropriate style Officer Talks SEC Appeals

XRP was up 2.10% to $0.5644 from Monday, August 12, to Saturday, August 17.

Ripple Chief Appropriate style Officer Stuart Alderoty discussed the SEC vs. Ripple case and the possibilities of an charm in an interview with CryptoLaw.

Vastly, Alderoty addressed speculation about the SEC attention-grabbing the Programmatic Sales of XRP ruling, announcing,

“XRP’s space as no longer a security and the secondary market trading of XRP as no longer security transactions, that’s the legislation of the land, and that does no longer commerce despite the undeniable truth that the SEC appeals.”

On the different hand, the market reaction to the statement was slightly muted when compared with the response to the July 2023 Programmatic Sales ruling.

In July 2023, XRP surged from sub-$0.50 to a excessive of $0.9327 in reaction to the Programmatic Sales of XRP ruling. On the different hand, XRP retreated to sub-$0.50 by mid-August on fears of an charm.

The subdued response underscored the confusion about the SEC’s ability to charm.

Feeble SEC attorney Marc Fagel previously commented on the closing judgment, announcing,

“The SEC obtained on institutional sales, which had been stumbled on to violate the legislation; Ripple obtained on “programmatic” sales (i.e. sales thru third-celebration intermediaries). It’s the latter which the SEC might well well presumably be attention-grabbing (however then Ripple would likely pass-charm the dilapidated).”