Umair
Spot ether (ETH) exchange-traded funds (ETFs) in the U.S. posted their 11th straight day of net outflows, losing some $358.1 million of investor funds as the price of ether fell almost 7%.
On Tuesday, BlackRock’s iShares Ethereum Trust ETF (ETHA) saw $12.9 million of outflows, losing a net $137.6 million over the period. Fidelity’s FETH and Grayscale’s ETHE were the other top two contributors to the total outflow.
In total, spot ether ETFs now hold around $7 billion worth of the cryptocurrency and, despite the outflows, seen a cumulative net inflow of $2.45 billion since their inception in July, SoSoValue data shows.
The price of ether fell from around $2,150 on March 8 to around $1,990 as of Thursday. It’s lost roughly 40% of its value year-to-date.
U.S. bitcoin (BTC) ETFs in the U.S. in contrast posted a fourth consecutive days of inflows, bringing their cumulative net total inflow to $35.8 billion since January last year.
