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Ethereum ETFs Record Unprecedented Downturn Despite $2.27 Billion Cumulative Influx
The crypto market has witnessed a stark contradiction in the Ethereum ETF space as daily inflows plummeted by $5.98 million, yet cumulative inflows continued to soar to an unprecedented $2.27 billion.
Despite the unexpected decline in daily net inflows, this sudden shift does not appear to indicate instability within the Ethereum ETF ecosystem. On the contrary, such a massive cumulative influx has historically signaled a stable and healthy market trend.
ETHA, sponsored by BlackRock and listed on NASDAQ, displayed remarkable resilience amidst the recent downturn, maintaining a steadfast $4.05 billion net inflow while its price fluctuated at a modest 4.64% change, resulting in a trading value of $12.40 per share.
In stark contrast to ETHA’s performance, Fidelity’s FETH ETF exhibited a more substantial 4.53% price surge, with an eye-catching net inflow of $1.36 billion and assets valued at $16.37 per share.
Interestingly, other Ethereum ETFs such as EZET, sponsored by Franklin, listed on the CBOE, displayed an insignificant premium/discount of -0.11%, accompanied by a 4.71% daily price increase.
Source: https://cryptonewsland.com/ethereum-etfs-see-5-98m-dip-but-2-27b-cumulat/
