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SPOT ETHEREUM ETFS FACE $170 MILLION OUTFLOWS IN BEARISH WEEK
#Ethereum #EthereumETF #ETF #ETHER
Spot Ethereum ETFs saw outflows of $170 million in their second week. Grayscale's ETHE led the decline.
Weekly Breakdown
Monday:
Outflows of $98.3 million; Grayscale’s ETHE lost $210 million. Inflows: BlackRock ($58.2M), Fidelity ($24.8M), Bitwise ($10.4M).
Tuesday:
Inflows of $33.7 million, led by BlackRock ($118M) and Fidelity ($16.4M). Grayscale’s ETHE continued outflows with $120.3 million.
Wednesday:
Outflows of $77.2 million. Grayscale’s ETHE lost $133.3 million. Inflows: BlackRock ($5M), Fidelity ($18.8M).
Thursday: Inflows of $26.7 million. BlackRock ($89.6M), Fidelity ($11.7M). Grayscale’s ETHE lost $78 million.
Friday:
Outflows of $54.3 million, totaling $169.4 million for the week. Grayscale’s ETHE lost $61.4 million.
Inflows: Fidelity and Franklin Templeton’s ETFs.
ETH Price Impact
ETH price dropped from $3,150 to $2,895 by week's end, with a market cap of $345.8 billion. Economic fears and a critical support level could trigger a rebound and potential 30% rally.
Future Outlook
A breach of resistance could drive ETH towards $5,000. RSI nearing oversold territory may attract buyers. Significant whale activity indicates strong belief in ETH’s potential, with a prominent investor buying 2,424 ETH ($7.22M) recently.
