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$358 Million Gone: Ether ETFs Suffer 11 Days of Outflows

Ether spot ETFs in the U.S. experienced net outflows for 11 consecutive days, totaling $358.1 million. During this period, the price of ether fell by nearly 7%. BlackRock’s iShares Ethereum Trust ETF (ETHA) saw $12.9 million in outflows on the last day, contributing to a net loss of $137.6 million over the 11 days. Fidelity’s FETH and Grayscale’s ETHE also significantly contributed to the total outflow. Despite these outflows, the ETFs currently hold around $7 billion in ether. Since their launch in July, they have seen a cumulative net inflow of $2.45 billion. The price of ether dropped from about $2,150 on March 8 to around $1,990 by Thursday, marking a 40% decline year-to-date. In contrast, U.S. bitcoin ETFs have seen four consecutive days of inflows, with a cumulative net total inflow of $35.8 billion since January of the previous year.

Source: www.coindesk.com

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