Bloomberg "Ethereum Spot ETF Records Longest Period of Fund Outflows"

Son Min

Summary

Ethereum spot ETF has recorded the longest period of fund outflows, with approximately $415 million withdrawn.
Standard Chartered has significantly lowered Ethereum's year-end price target from $10,000 to $4,000.
Layer 2 blockchains developed to improve Ethereum's scalability have been evaluated to have had an adverse effect.

Ethereum (ETH) spot exchange-traded fund (ETF) has recorded the longest period of net outflows.

On the 23rd (local time), Bloomberg reported, "The U.S. Ethereum spot ETF has recorded the longest period of fund outflows since its launch in July last year," adding, "Approximately $415 million was withdrawn during the 13 trading days of net outflows."

The media stated, "Despite being a major infrastructure supporting decentralized finance (DeFi), Ethereum has fallen about 40% over the past year due to a lack of leadership and strategy," and assessed that "demand for Ethereum is unstable." It further added, "Standard Chartered has significantly lowered its year-end target for Ethereum from $10,000 to $4,000."

Previously, Standard Chartered stated in a report, "Layer 2 blockchains developed to improve Ethereum's scalability are adversely affecting Ethereum," and announced, "We are lowering this year's price forecast to $4,000."

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