The nine Ethereum ETFs continued their run of poor form recording outflows and low investor activity.
The Ethereum ETFs lost $136.2 million yesterday following a general market dip that reflected on both the traditional financial market and crypto markets.
Three Ethereum ETF funds recorded outflows yesterday with only one of the funds pulling in funds.
Only four Ethereum Exchange-traded funds recorded transactions yesterday.
This follows a continued trend of the ethereum ETFs recording low investor activity since the turn of the year.
Grayscale’s ETHE led the outflows, losing $84.2 million. Fidelity’s FETH followed suit with an outflow of $68.5 million.
Bitwise, ETHW lost $4.2 million, the least inflow for the day.
Blackrock’s ETHA pulled in the only inflow for the day recording a $20.7 million inflow.
Ethereum Price Analysis
Ethereum, the second-largest crypto asset, reacted to the general market dip yesterday. The crypto asset, however, has retraced to $3,179 at the time of the report. The crypto asset is down 4.0% in the last 7 days.
Ethereum ETFs have severely underperformed compared to Bitcoin ETFs. Analysts believe the discrepancy between the two Exchange-traded funds can be traced to their various onboarding levels.
Ethereum is a lot more complex than Bitcoin and requires a lot more learning curve to get investors to come on board.
