CCData presented data showing a decrease in Ethereum (ETH) futures volumes in August, while Bitcoin (BTC) volumes increased.
Decline in Ethereum Futures Volumes
According to CCData, ETH futures volume fell 28.7% to $14.8 billion in August, the lowest level since December 2023. CCData analysts attributed this decline to unmet expectations from ETH ETFs: “This decline in Ethereum trading volumes suggests lower-than-expected institutional interest, especially following the launch of spot ETH ETFs. The decline in inflows into spot ETH ETFs in August further supports this trend. Furthermore, seasonality effects in August may have also contributed to the decline in transaction activity, and this trend is likely to continue through the end of September.” The Ethereum price has fallen by 30% since the ETF launch.
Rise in Bitcoin Futures Volumes
Despite the decline in Ethereum futures volumes, data showed that the volume in CME Bitcoin futures increased by 3.74% in August, reaching $104 billion.
Shift in Investor Interests
CCData analysts noted a shift in investor interests from Ethereum to Bitcoin based on current market conditions. Jake Ostrovskis, an over-the-counter trader at Wintermute, explained: “The data shows that money is shifting from Ethereum to Bitcoin. This shift towards higher-cap assets like Bitcoin signals a more conservative market sentiment, with investors showing less risk appetite and more speculative positions in smaller, more volatile cryptocurrencies.”
Analysts believe that the decline in Ethereum futures volumes and the rise in Bitcoin volumes reflect current market sentiments and institutional investor expectations.
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