ETH's Decline: The Continuing Impact of Outflows from Spot ETFs
CryptoNewsTerminal Staff19 Aug, 2024
ETH's Decline: The Continuing Impact of Outflows from Spot ETFs
Ethereum's (ETH) Price Decline: Spot ETF Outflows to Blame? Despite the launch of spot exchange-traded funds (ETFs), Ethereum (ETH) has experienced a price decline. One contributing factor is that ETH spot ETFs have experienced significant selling pressure, with cumulative net outflows totaling $420.5 million since their launch. The increased supply of ETH may also be a factor in the price decline. Since the launch of ETH spot ETFs on July 23, the supply of ETH has increased by 66,555. This increase in supply could have contributed to the downward pressure on ETH's price. The decline in ETH's price is a reminder that the cryptocurrency market is still volatile and subject to large swings. Investors should be aware of the risks involved in investing in cryptocurrencies and should only invest what they can afford to lose.
