US Spot Ether ETFs Post $29.35 Million in Outflows as Selling Pressure Persists
Summary
- US spot Ether ETFs recorded net outflows of $29.35 million in a single day.
- Heavy outflows continued from major products including Grayscale's Ethereum Mini Trust (ETH) and BlackRock's ETHA.
- With Ether trading weakly near $1,700, sentiment in the spot ETF market has remained subdued, adding to short-term price pressure.
Forecast Trend Report by Period
US spot Ether exchange-traded funds recorded net outflows of $29.35 million in a single day.
Trader T data released June 18 showed US spot Ether ETFs posted total net outflows of $29.35 million on June 17.
The largest withdrawal came from Grayscale Ethereum Mini Trust, ETH, which saw net outflows of $9.89 million.
BlackRock's ETHA lost $8.97 million. Fidelity's FETH posted net outflows of $4.34 million, 21Shares' TETH shed $2.79 million, and Grayscale's ETHE recorded $2.24 million in outflows.
Bitwise's ETHW and VanEck's ETHV also saw outflows of $500,000 and $640,000, respectively.
By contrast, BlackRock's staking Ether ETF, ETHB, posted net inflows of $20,000. Invesco's QETH and Franklin Templeton's EZET recorded no flows.
With Ether continuing to trade weakly near $1,700, investor sentiment in the spot ETF market has remained subdued. Traders are also watching rising ETH inflows to exchanges and weaker derivatives activity as short-term pressure on prices builds.
YM Lee
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