Ethereum Spot ETFs Experience Outflow of $77.2 Million on July 31

IconCryptoNewsTerminal Staff01 Aug, 2024

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Ethereum Spot ETFs Experience Outflow of $77.2 Million on July 31

Ethereum spot exchange-traded funds (ETFs) witnessed a significant outflow of $77.2 million on July 31, according to a report by Passive Investors. This outflow was primarily driven by Grayscale ETHE, which experienced an outflow of approximately $133 million. Despite the overall outflow, some Ethereum spot ETFs managed to attract inflows. For example, Purpose Ethereum ETF and CI Galaxy Ethereum ETF recorded inflows of $29 million and $17.5 million, respectively. These inflows suggest that investors remain interested in Ethereum as an investment asset. The outflows from Ethereum spot ETFs could be attributed to several factors, such as the recent decline in the cryptocurrency market and the uncertainty surrounding regulatory developments. However, the inflows into certain ETFs indicate that there is still demand for Ethereum exposure among investors.

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