On September 24th, according to the analysis of CoinDesk, the outflow of funds from the US Ethereum ETF hit the largest record since July. The outflow exceeded $79 million on Monday, indicating that institutional demand for Ethereum is weakening. Almost all the outflows on Monday came from grey release's ETHE product, and Bitwise's ETHW inflow was slightly higher than $1.30 million. There was no inflow or outflow activity from other products. The disconnect between ETH price momentum and ETF outflows indicates that investors remain uncertain about the asset's long-term growth prospects.
Peter Chung, head of research at Presto Labs, said that compared to Bitcoin's widely accepted "digital gold" narrative, Ethereum's "world computer" narrative is not as easy to resonate with traditional finance (TradFi) investors. Augustine Fan, head of SOFA.org Insights, pointed out that while ETH has rallied due to the dovish stance of the Federal Reserve, the large amount of ETF outflows indicates fragile market sentiment. Independent market analyst Nick Ruck pointed out that the recent outflows may be related to the general pessimism about Ethereum's growth prospects.
Earlier today, it was reported that the US Ethereum spot ETF had a total net outflow of 79.2097 million dollars yesterday, and the ETF net asset ratio reached 2.25%.
Analysis: The U.S. Ethereum ETF has recorded its largest outflow since July, indicating lower institutional attractiveness
2024-09-24 07:42:18
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