The analysis states that Spot Ether ETFs experienced a net outflow of $26.26 million for the previous week, with Grayscale's ETHE seeing the largest outflow of $46.38 million. However, BlackRock's ETHA had the highest inflow of $14.32 million. The last two days of the week saw continuous inflows, with BlackRock and Mini Trust both seeing inflows of $5.2 million and $2.9 million respectively. The total cumulative flow for ETH ETFs stands at $607.6 million. The analysis also notes that ETH is up 2.71% and predicts a further growth of 6.26% in the next 30 days. The Federal Reserve's rate cut is said to be impacting the value of ETH and Spot Ether ETFs. The article mentions criticism of the rate cut being too late and politically motivated. Spot Bitcoin ETFs performed well, with only one outflow recorded and potential for other crypto ETFs to enter the market in the future, including an XRP ETF.
- Content Editor ( cryptonewsz.com )
- 2024-09-23
Spot Ether ETFs record weekly net outflow of $26.26 million