Ethereum Spot ETFs Witness outflows of $133 Million

IconCryptoNewsTerminal Staff24 Jul, 2024

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Ethereum Spot ETFs Witness outflows of $133 Million

Traders recorded net outflows of $133 million from Ethereum spot ETFs on the previous day. Grayscale's ETHE experienced significant withdrawals amounting to $327 million, while its mini ETF, 'ETH', attracted inflows of $45.9 million. BlackRock's ETHA and Fidelity's FETH saw inflows of $17.4 million and $74.5 million, respectively. These outflows from spot ETFs may indicate increased selling pressure or reduced interest in Ethereum-based investments among traders. It's worth noting that market sentiment and investor appetite can impact the performance of ETFs, and further developments in the cryptocurrency market should be monitored to gauge the long-term effects of these outflows.

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