U.S. Ether ETFs Experience Significant Withdrawals Amid Bitcoin Gains
- U.S. spot ether exchange-traded funds saw net outflows of approximately $39 million on Thursday.
- This marks the third consecutive day of withdrawals, following $224 million on Wednesday and $141 million on Tuesday.
- Bitcoin ETFs recorded inflows of about $159 million during the same period.
- The single U.S. Zcash fund added nearly $47 million, its best performance in a month with total inflows exceeding $230 million.
- Over the past month, ether funds remain ahead by over $1.5 billion, while bitcoin funds are up nearly $2.5 billion.
Despite the outflows from ether ETFs, the price of ether increased by about 2% to around $2,470, while bitcoin rose more than 1% to approximately $77,216.
The recent trend indicates a shift in investor sentiment as ether funds experienced significant withdrawals totaling over $400 million this week alone.(Source)
