Spot Ethereum ETF Exits Raise Eyebrows in Financial World

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 Spot Bitcoin ETFs also experienced outflows, with $333.2 million withdrawn on August 4th, following an $812.3 million outflow the previous Friday.