Ether ETFs Hit With Record $465 Million Daily Outflow
The post Ether ETFs Hit With Record $465 Million Daily Outflow appeared on BitcoinEthereumNews.com. The sharp reversal coincided with ETH’s weekend price drop to $3,380, though the altcoin has since rebounded. BlackRock’s ETHA led the outflows, followed by funds from Fidelity and Grayscale. Despite this turbulence, on-chain data shows that there is still institutional confidence, with over $3.1 billion in ETH accumulated by whales and institutions since early July. Ethereum ETFs Bleed United States spot Ethereum exchange-traded funds (ETFs) experienced a huge shift on Monday after recording nearly half a billion dollars in daily net outflows. This was their largest since they were launched. According to data from Farside Investors, the outflows totaled $465 million, and it followed an earlier outflow of $152 million on Friday, which ended a 20-day streak of consistent inflows. This reversal happened after a particularly strong July, during which Ethereum ETFs saw a record $5.43 billion in net inflows. The price of Ethereum (ETH) fell sharply over the weekend to reach a low of $3,380 on Sunday, down 12% from its Thursday high of $3,858. However, it showed some signs of recovery by Tuesday. At press time, the altcoin was trading hands at $3,670 after its price managed to climb by just over 3% throughout the past 24 hours. ETH’s price action over the past week (Source: CoinMarketCap) Among the ETF providers, BlackRock’s iShares Ethereum Trust (ETHA) saw the worst outflows, with close to $375 million leaving the fund on Monday. Despite this, ETHA still holds a cumulative net inflow of $9.3 billion and maintains net assets of $10.7 billion. Fidelity’s Ethereum Fund (FETH) followed with $55.11 million in outflows, but it is still positive overall, with $2.2 billion in cumulative inflows and $2.4 billion in net assets. Grayscale also experienced outflows. The Grayscale Ethereum Mini Trust saw $28 million in net outflows, while the Grayscale Ethereum Trust (ETHE)…
The post Ether ETFs Hit With Record $465 Million Daily Outflow appeared on BitcoinEthereumNews.com.
The sharp reversal coincided with ETH’s weekend price drop to $3,380, though the altcoin has since rebounded. BlackRock’s ETHA led the outflows, followed by funds from Fidelity and Grayscale. Despite this turbulence, on-chain data shows that there is still institutional confidence, with over $3.1 billion in ETH accumulated by whales and institutions since early July. Ethereum ETFs Bleed United States spot Ethereum exchange-traded funds (ETFs) experienced a huge shift on Monday after recording nearly half a billion dollars in daily net outflows. This was their largest since they were launched. According to data from Farside Investors, the outflows totaled $465 million, and it followed an earlier outflow of $152 million on Friday, which ended a 20-day streak of consistent inflows. This reversal happened after a particularly strong July, during which Ethereum ETFs saw a record $5.43 billion in net inflows. The price of Ethereum (ETH) fell sharply over the weekend to reach a low of $3,380 on Sunday, down 12% from its Thursday high of $3,858. However, it showed some signs of recovery by Tuesday. At press time, the altcoin was trading hands at $3,670 after its price managed to climb by just over 3% throughout the past 24 hours. ETH’s price action over the past week (Source: CoinMarketCap) Among the ETF providers, BlackRock’s iShares Ethereum Trust (ETHA) saw the worst outflows, with close to $375 million leaving the fund on Monday. Despite this, ETHA still holds a cumulative net inflow of $9.3 billion and maintains net assets of $10.7 billion. Fidelity’s Ethereum Fund (FETH) followed with $55.11 million in outflows, but it is still positive overall, with $2.2 billion in cumulative inflows and $2.4 billion in net assets. Grayscale also experienced outflows. The Grayscale Ethereum Mini Trust saw $28 million in net outflows, while the Grayscale Ethereum Trust (ETHE)…
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