Summary
- It reported that U.S. Ethereum (ETH) spot ETFs have continued net outflows for 8 consecutive trading days.
- Notably, large capital outflows occurred from major ETFs such as BlackRock's 'ETHA' and Fidelity's 'FETH'.
- It reported that institutional capital outflows and Ethereum price declines are occurring simultaneously, intensifying the downward trend.
Net capital outflows from Ethereum (ETH) spot ETFs have continued for 8 trading days.
According to data from TraderT, on the 20th (local time), U.S.-traded Ethereum spot ETFs experienced a net outflow of $260,660,000 in a single day.
The largest outflow was from BlackRock's 'ETHA', which saw $121,670,000 withdrawn, and Fidelity's 'FETH' also saw $90,550,000 leave. These two products accounted for a large portion of the total outflows and led the downward trend. Bitwise's 'ETHW' and VanEck's 'ETHV' had $11,170,000 and $18,670,000 withdrawn, respectively. Grayscale's 'ETHE' also recorded a net outflow of $18,600,000.
Franklin's 'EZET', Invesco's 'QETH', 21Shares' 'CETH', and Grayscale Mini's 'ETH' saw no change.
With the possibility of a December rate cut fading and institutional capital outflows continuing, Ethereum's decline is deepening. On the day, based on the Binance Tether (USDT) market, Ethereum is trading in the $2,820 range, down 7% from the previous day.
Doohyun Hwang
cow5361@bloomingbit.ioKEEP CALM AND HODL🍀
