📢ETF on Ethereum under pressure📊
On August 2, the Ethereum spot ETF market saw a significant net outflow of $54.27 million. Grayscale's ETF, ETHE, led the charge, with one-day outflows of $61.43 million. However, not all ETFs followed this trend; Fidelity's ETF, FETH, saw inflows of $6.02 million, and Franklin's ETF, EZET, also saw inflows of $1.14 million.
These divergent movements reflect different investor sentiment: some are reducing their positions in Ethereum, while others continue to increase them. The overall outflow indicates caution in the market, possibly due to broader market conditions affecting the price of Ethereum.
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