💥💥💥 #EthereumETFs After 30 Days: Only One Week of Inflows Recorded
Ethereum ETFs Face Persistent Outflows, Brief Inflow Spikes
Consistent Outflows:
- Ethereum ($ETH ) ETFs have largely experienced net outflows since their inception, with data showing a significant $341.35 million outflow in the first week, followed by a $169.35 million outflow in the second week. Over this period, total ETF assets dropped from $9.24 billion to $8.33 billion as ETH's price declined by 7%.
Brief Inflow Respite:
- In the third week, ETH ETFs saw their first and only inflows, totaling $104.76 million. Despite this, the net assets fell further, ending the week at $7.28 billion. Subsequent outflows continued, with current net assets standing at $7.38 billion, representing 2.3% of Ethereum's market cap.
BlackRock’s iShares Milestone:
- #BlackRock’s iShares Ethereum Trust (ETHA) reached over $1 billion in cumulative net inflows, surpassing the next three largest ETFs combined. However, its net assets rank third behind Grayscale's mini Ether Trust and Ethereum Trust.
ETH Price Forecast:
- ETH is currently trading at $2,627, up 1% with a 9% increase in trading volume. Its struggle to stay above $3,000 presents a potential buying opportunity, with MVRV ratios indicating possible undervaluation. Investors could benefit if prices rise toward $2,868 but risk losses if it falls below $2,579.
Source - beincrypto.com
