The US Securities and Exchange Commission’s delay in approving spot Ethereum exchange-traded funds (ETFs) led to Ethereum ETFs experiencing their highest outflows in two years. Last week, outflows hit $61 million, making Ethereum the worst-performing asset this year with a negative net flow of $25 million.
James Butterfill, Coinshares head of research, noted that the recent modest flow indicated a significant stemming of outflows. Despite the negative sentiment, trading volume rose 43% week-on-week to $6.2 billion, still below the weekly average of $14.2 billion.
Large-cap alternatives like Solana and Litecoin saw minor inflows of $1.6 million and $1.4 million, respectively. Blockchain equities have suffered outflows of $545 million this year, representing 19% of AuM.
The strategic importance lies in the market’s resilience and the potential future approval of Ethereum ETFs, which could stabilize investor sentiment.
