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Spot Ethereum ETFs Sheds $55 Million, Recording No Inflows for the Day
In a surprising turn of events, Spot Ethereum ETFs have recorded a significant outflow of $55 million, with no inflows reported on December 31, 2024. This marks a rare occurrence since the launch of these exchange-traded funds (ETFs), and the first time in four trading days that an Ethereum ETF has ended the day on a deficit.
According to recent data, Fidelity’s FETH led the outflow for the day, losing $20.4 million. Grayscale’s ETHE and ETH followed closely, with respective losses of $17.4 million and $13.8 million. Franklin EZETs ETF was not far behind, recording an outflow of $3.9 million.
It is worth noting that Blackrock’s IBIT trading figures have yet to be reported at the time of this article. Other Ethereum ETF funds reportedly recorded no transactions for the day.
This news comes as a shock to many in the crypto community, particularly those who had been expecting a significant influx of capital into the market. The recent trends and data suggest otherwise.
As Ethereum’s price continues to struggle, it remains to be seen what this outflow might mean for the future direction of the asset.
Source: www.crypto-news.net
