JPMorgan said in a research note on Wednesday that Ethereum spot exchange-traded funds have seen net outflows overall since launching last month, while spot Bitcoin ETFs launched earlier this year have been more successful. Ethereum funds have seen net outflows of about $500 million, while Bitcoin ETFs have seen net inflows of more than $5 billion.

The bank said the weak data for Ethereum ETFs was somewhat expected, noting that Bitcoin's "first-mover advantage," lack of collateralization, and lower liquidity mean it is less attractive to institutional investors. #财经