Odaily Planet Daily News According to Bloomberg data cited by ETC Group in its weekly report, global Ethereum ETPs had a net outflow of approximately US$63.5 million last week, with Hong Kong-listed ETFs suffering the largest losses. Meanwhile, Bitcoin ETPs had a net inflow of US$92.5 million last week. There may be several factors behind Ethereum's loss of favor among investors, including fierce competition from L1 and uncertainty over the approval of Ethereum spot ETFs in the United States. "The approval of the Bitcoin spot ETF in the United States reinforces Bitcoin's narrative of value storage and its status as a macro asset," said David Han, a research analyst at Coinbase Institutional, in a report on Wednesday. "On the other hand, there are still unresolved questions about Ethereum's fundamental positioning in the crypto space. Competitors like Solana weaken Ethereum's positioning as the 'preferred' network for DApp deployment." (CoinDesk)
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Last week, the net outflow of Ethereum ETP was about $63.5 million, which may be affected by multiple factors such as the uncertainty of spot ETF approval
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