Massive Outflow of $163 Million Foreseen in ETH Spot ETFs

IconCryptoNewsTerminal Staff26 Jul, 2024

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Massive Outflow of $163 Million Foreseen in ETH Spot ETFs

Massive Outflow of $163 Million from ETH Spot ETFs Net outflows of $163 million were reported from nine U.S. ETH spot exchange-traded funds (ETFs) on the 26th. Grayscale's ETHE witnessed the largest withdrawal of $356 million, followed by Grayscale's mini ETF 'ETH' with a loss of $44.9 million. However, BlackRock ETHA and Fidelity FETH experienced positive investments of $87.3 million and $39.3 million, respectively. Bitwise ETHE also attracted an inflow of $16 million. This large outflow may indicate a shift in investor sentiment towards Ethereum, potentially due to concerns over the upcoming Shanghai upgrade or general market conditions.

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