Ethereum exchange-traded funds (ETFs) experienced $22 million worth of outflows on Tuesday, with BlackRock's iShares Ethereum Trust ETF and Fidelity Ethereum Fund being the most affected. These ETFs have seen five consecutive days of outflows. In contrast, Bitcoin ETFs received $371 million worth of inflows. The launch of Ether ETFs was not as successful as expected due to the lack of staking, which could increase investor profits and improve the competitiveness of the US in the digital asset space. Fidelity has requested the regulator to enable staking for its ETF, potentially becoming the first Ether ETF to offer staking. The SEC administration has identified staking as a top priority. The price of Ethereum dropped to $1,874 and has declined more than 43% this year. Nonetheless, Consensys CEO Joseph Lubin remains bullish on the cryptocurrency.



Other News from Today