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Three ETF products lose $79.4 million as Ethereum ETFs pull in only $2.5 million
The cryptocurrency market has witnessed a significant outflow of assets, with three Ethereum ETF products experiencing losses totaling $79.4 million yesterday. In stark contrast, the remaining Ethereum ETFs managed to attract a mere $2.5 million in inflows.
According to recent data, Grayscale’s ETHE, Grayscale’s ETH, and Bitwise’s ETHW were among the ETF products that recorded significant outflows, with losses totaling $49.2 million, $15.6 million, and $14.6 million respectively. Meanwhile, Blackrock’s ETHA stood out as the sole exception, attracting a substantial inflow of $81.9 million.
The cumulative net inflow for the day was a dismal $2.5 million. In related news, 642 Ethereum crypto assets were bought yesterday during trading hours. The data further highlights the stark contrast between the performance of Ethereum ETFs and their Bitcoin counterparts, which have consistently outperformed in recent times.
Ethereum’s price has taken a hit, dropping by 4.8% over the past 24 hours to trade at $3,676. Despite breaching the $4000 price level twice this week, the asset is still struggling to surpass its three-year all-time high of $4,878, representing a decline of 24.5%.
Source: www.crypto-news.net
