The newly launched spot Ethereum Exchange Traded Funds (ETFs) in the United States recorded a net outflow of $98.29 million yesterday stretching its bleeding streak to four days now.
The nine-spot Ethereum ETFs which were launched for trading on July 23 have witnessed a negative flow streak for four days in a row led by the massive outflows recorded in one of the nine products.
According to Data from Farside Investors UK, the Nine Ethereum ETFs recorded a net outflow of $98.3 million.
Grayscale Ethereum Trust (ETHE) was the only ETF to witness an outflow with a staggering $210 million leaving the fund. This ETF is responsible for the four-day outflow streak by the nine Ethereum ETFs due to the millions in funds that have outflowed from it since the day of launch.
Aside from the outflow from Grayscale’s ETHE, some of the other ETFs recorded inflows although it wasn’t enough the offset the deficit of the collective ETFs.
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