**Ether Price Slumps Despite Historic ETF Launch**

Ether (ETH) has been on a downward spiral, dropping over 24% in the past month to $2,572 as of August 19, according to Cointelegraph. This decline comes despite the much-anticipated launch of the first Ether-based exchange-traded funds (ETFs) in the U.S.

- **ETF Impact**: The new Ether ETFs have seen a cumulative $420.5 million in net outflows, adding selling pressure.

- **Supply Surge**: Since the ETF launch on July 23, Ether's supply has increased by 60,555 ETH, worth over $155 million.

- **Dencun Upgrade**: Ethereum's Dencun upgrade aimed to reduce transaction fees but hasn't boosted prices. ETH supply has risen by 197,000 ETH since the upgrade, and prices have fallen by 35%.

Crypto experts suggest a potential breakout in early 2025, but for now, Ether continues to struggle.