Ethereum ETFs See Outflows for Fifth Consecutive Day

November 21, 2024

Ethereum ETFs saw outflows for the fifth consecutive day on November 20, with funds seeing outflows of around $30.29 million, reflecting increasing market pressure amid volatile cryptocurrency investment trends.

Fidelity’s FETH fund led the outflows, losing $30.75 million during the period. Grayscale’s ETHE fund saw outflows of $16.29 million, bringing the fund’s total outflows since its launch to around $3.29 billion. These outflows indicate a decline in interest in Ethereum funds, despite initial expectations of significant growth in the cryptocurrency.

In contrast, BlackRock’s ETHA fund saw a notable turnaround, attracting $16.74 million in inflows, bucking the trend of outflows from other funds. These shifts in investor sentiment suggest that some funds may be able to weather the current market volatility, highlighting selective strategies for allocating investments in this volatile sector.