Ethereum ETFs See Devastating Outflows of $465 Million

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.