Spot Ethereum ETF Exits Raise Eyebrows in Financial World
Main Idea
Spot Ethereum ETFs experienced significant outflows on August 4th, with BlackRock's ETHA ETF alone seeing a $375 million withdrawal, amid market volatility and short-term risk aversion.
Key Points
1. US-based spot Ethereum ETFs saw their largest daily outflow on August 4th, totaling $465.1 million, with BlackRock's ETHA ETF accounting for $375 million of that amount.
2. The outflows followed record inflows in July, including $1.9 billion on the third and $154.3 million just before the withdrawal.
3. Experts attribute the outflows to short-term risk aversion, possibly triggered by weak US employment data.
4. Despite the outflows, Ethereum (ETH) gained 4.1% in the last 24 hours, suggesting the ETF fluctuations may be temporary.
5. Spot Bitcoin ETFs also experienced outflows, with $333.2 million withdrawn on August 4th, following an $812.3 million outflow the previous Friday.
Description
US spot Ethereum ETFs faced a record $465.1 million outflow on August 4th. BlackRock's ETHA fund observed a significant withdrawal of $375 million. Continue Reading: Spot Ethereum ETF Exits Raise Eyebrows in Financial World The post Spot Ethereum ETF Exits Raise Eyebrows in Financial World appeared first on COINTURK NEWS .
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