Spot Ether ETFs Bleed $1B as Macro Fears Grow
Spot Ether exchange-traded funds (ETFs) have experienced over $1 billion in outflows in just six days, driven by mounting macroeconomic concerns and dwindling optimism regarding rate cuts. On Monday alone, Ether ETFs registered net outflows of $96.7 million, primarily due to significant withdrawals from BlackRock's ETHA, which saw $192.7 million exit, while Fidelity's FETH and Grayscale's ETHE managed to attract some inflows. Total trading volume for Ether ETFs reached $1.52 billion, with overall net assets dropping to $27.39 billion, reflecting 5.28% of Ether's market capitalization. Notably, the largest single-day outflow was $446.7 million on Friday. This development comes as investors reassess expectations regarding the Federal Reserve's monetary policies, with some strategists warning that anticipated rate cuts might not revive economic sentiment. Concurrently, spot Bitcoin ETFs posted a contrasting $368.25 million in inflows, helping recover from previous losses and bringing their total net assets up to $145.41 billion. This divergence in ETF performance highlights the cautious sentiment prevailing in the cryptocurrency market amid broader economic uncertainties.
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