Ethereum ETFs: A Rollercoaster Ride 🎢
Ethereum's ETFs have had a bumpy start in the U.S. market. Despite initial excitement, they saw $113M in outflows on the second day, causing a 12.1% drop in Ethereum’s value over the past week. Other altcoins like Lido Staked Ether and Cardano also felt the impact.
But it's not all doom and gloom! Bloomberg analyst Eric Balchunas points out that while Grayscale’s ETF faced outflows, others like BlackRock’s and Fidelity’s saw healthy inflows. The Ethereum options market is also showing optimism, with a put-call ratio of 0.46, indicating a preference for buying ETH.
Stay tuned, the crypto market is as dynamic as ever! 🚀