Ether ETF Marks First Week of Outflows Since May
The Ether ETF observed a significant influx of $341 million during its second day, with Fidelity’s Feth Fund leading the charge. In contrast, the Bitcoin ETF registered its sixth straight day of net outflows, mainly from BlackRock’s notable IBIT funds, while some others experienced minimal inflows.
As for Ether, the week ending August 22 was notable as it marked the first week of negative flow since May 9. During the same period, the Bitcoin ETF faced net outflows exceeding $1 billion.
Recently, Ether prices reached a peak of nearly $5,000 but started the week under $4,600, reflecting a 6% decrease, as reported by Coin Metrics. On Friday, ETH surged to an early high – a milestone not seen since 2021.
Intel Shares Surge Following Government Stake Acquisition
Intel shares experienced an uptick of over 2% in the market, marking a 5.5% gain on Friday after the US government confirmed its 10% stake acquisition in the chip manufacturer.
“Big news: The United States currently owns 10% of Intel, one of America’s leading tech companies,” stated Commerce Secretary Howard Lutnick in a post on X.
Keurig Dr Pepper Stocks Drop After JDE Peet’s Purchase Announcement
Keurig Dr Pepper stocks fell by more than 3% after the company revealed plans to acquire the Dutch coffee brand JDE Peet’s for $18 billion.
Upon completion of the deal, Keurig intends to split its beverage and coffee divisions into two separate publicly traded entities, effectively reversing the 2018 merger with Dr Pepper Snapple.
Hong Kong and China Markets Show Gains, Leading Asia
Asian markets rose on Monday, driven by gains in China and Hong Kong, following indications from Federal Reserve Chairman Jerome Powell that the central bank might ease monetary policy at next month’s meeting in Jackson Hole.
The CSI 300 index in mainland China climbed 2.08% to close at 4,469.22, marking four consecutive sessions of gains and reaching a peak not seen in 37 months earlier in the day.
In Hong Kong, the Hang Seng index advanced 1.94% to 25,829.91, entering a range not seen in four years. This upward trend was predominantly led by Zijin Mining Group, which saw a gain of 6.38%, while Netaase increased by 6.04%.
The high-tech sector contributed significantly to the Hang Seng Index’s performance, with the Hang Seng Tech Index rising 3.14% to 5,825.09. Nio surged by 15.17%, and semiconductor manufacturer asmpt gained 7.6%.
Taiwan’s Taiex index also rose, climbing 2.16% to 24,277.38. In South Korea, the Kospi index closed 1.3% higher at 3,209.86, while the smaller Kosdaq increased by 1.98% to 798.02.
Japan’s Nikkei 225 benchmark rose 0.41%, ending the day at 42,807.82, and the broader Topix index increased 0.15% to 3,105.49. Meanwhile, the Australian S&P/ASX 200 remained flat at 8,972.40, after briefly surpassing the 9,000 mark earlier in the session.
In India, the Nifty 50 index gained 0.53%, while the BSE Sensex rose 0.51% as of 1:50 PM Indian time (4:20 AM ET).
Ether Hits New Highs, Bitcoin Retreats from Jackson Hole Gains
Ether reached a new record over the weekend, marking its first gain since Friday for the first time since 2021.
The price of the cryptocurrency peaked at $4,954.81 on Sunday afternoon, compared to $4,776.46, which was under 1% lower at the last update.
Conversely, Bitcoin erased its gains from Friday’s rally, dropping to $110,779.01—the lowest point since July 10. Ultimately, it was 2% down around $112,000 after having set a record on August 13.
Yaldeni Maintains Optimistic S&P Target Despite Market Conditions
Wall Street strategist Ed Yaldeni mentioned that market behaviors signal possible interest rate cuts anticipated in the coming months, while also suggesting that the August CPI and employment report, along with “a few” other metrics, could rally together.
“This is why we’re sticking to the 6,600 target for the S&P 500 by the end of 2025 and a more aggressive 7,700 for next year,” he wrote on Sunday. He assigned a subjective probability of 55% to this base case scenario. “Should the Fed ease as expected, a market ‘melt-up’ is likely,” he noted, adding that by 2026, bull markets are expected to be driven more by revenue than valuation.





