Ether ETFs: A Dreadful Drama of Outflows and Woe! 🎭

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What to know:

  • Oh dear! Ether ETFs have experienced a rather tragic net outflow of $358.1 million over 11 consecutive days. 💸
  • The price of ether has taken a nosedive, dropping nearly 7% and down a staggering 40% this year. How positively ghastly! 📉
  • Despite this financial fiasco, the ETFs still clutch approximately $7 billion in ether, with a cumulative net inflow of $2.45 billion since their grand debut. Quite the paradox, isn’t it? 🤔

In a most unfortunate turn of events, spot ether (ETH) exchange-traded funds (ETFs) in the U.S. have reported their 11th consecutive day of net outflows, losing a rather shocking $358.1 million of investor funds as the price of ether plummeted almost 7%. One must wonder if the ether is feeling a bit under the weather! 🌧️

On Tuesday, BlackRock’s iShares Ethereum Trust ETF (ETHA) saw a rather dismal $12.9 million of outflows, contributing to a net loss of $137.6 million over the period. Fidelity’s FETH and Grayscale’s ETHE were the other two culprits in this financial drama. How delightfully scandalous! 😏

In total, these spot ether ETFs now hold around $7 billion worth of the cryptocurrency. Despite the outflows, they have seen a cumulative net inflow of $2.45 billion since their inception in July, according to SoSoValue data. A classic case of “the show must go on!” 🎭

The price of ether has fallen from around $2,150 on March 8 to a mere $1,990 as of Thursday. It’s lost roughly 40% of its value year-to-date. One might say it’s having a rather unfortunate year! 🥴

In stark contrast, U.S. bitcoin (BTC) ETFs have been enjoying a delightful fourth consecutive day of inflows, bringing their cumulative net total inflow to a staggering $35.8 billion since January last year. Oh, the irony! 🎉

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2025-03-20 16:20