Unprecedented Outflows Recorded in Spot Ethereum ETFs, Fidelity’s FETH Leads the Way

Spot Ethereum ETFs sheds $55 million recording no inflows for the day

In a shocking turn of events, Spot Ethereum ETFs recorded a staggering loss of $55 million yesterday, with no inflows to speak of. This unusual occurrence marks the first time in four trading days that the Ethereum ETFs have closed on a deficit.

According to recent data, Fidelity’s FETH led the outflow for the day, losing a substantial $20.4 million. Grayscale’s ETHE and ETH followed closely behind, recording outflows of $17.4 million and $13.8 million respectively. Franklin EZETs ETF also made an appearance on the list, losing a significant $3.9 million.

It’s worth noting that Blackrock’s IBIT trading figures have yet to be recorded at this time. Meanwhile, other ETF funds reported no transactions for the day.

In related news, Ethereum’s price analysis suggests that it is currently trading hands at $3,391, having taken a hit of 0.9% in the last 24 hours. This decline brings its total loss since its all-time high of $4,878 to a staggering 30.5%.

The cryptocurrency’s failure to reach this milestone has sparked widespread criticism from its community over concerns regarding price lag and other structural issues.

Stay tuned for further updates on this developing story as more information becomes available.

Source: www.crypto-news.net