Ethereum ETFs See Devastating Outflows of $465 Million
Main Idea
Ethereum ETFs experienced significant outflows of $465 million in a single day, with BlackRock's iShares Ethereum Trust ETF and Fidelity Ethereum Fund being the most affected, despite Ethereum's price rising by 4% over the past 24 hours.
Key Points
1. Ethereum ETFs saw outflows of over $465 million on Monday, with BlackRock's iShares Ethereum Trust ETF losing $375 million and Fidelity Ethereum Fund losing $55.1 million.
2. No Ethereum ETF recorded positive inflows on the day, marking a rough start after a strong July where they attracted $5.4 billion in inflows.
3. Despite the outflows, Ethereum's price increased by roughly 4% in the past 24 hours, indicating resilience among investors.
4. August began with $152.26 million in outflows, ending a 20-day streak of consecutive inflows, though total inflows for the month still reached $617 million.
5. ETF flows are volatile, as seen with Bitcoin ETFs, where inflows can spike as quickly as outflows.
Description
Ethereum ETFs bleed $465 million in a single day after record-breaking outflows in July
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