Crypto:
32384
Bitcoin:
$98.342
% 0.27
BTC Dominance:
%58.1
% 1.36
Market Cap:
$3.33 T
% 0.79
Fear & Greed:
93 / 100
Bitcoin:
$ 98.342
BTC Dominance:
% 58.1
Market Cap:
$3.33 T

US Spot Ethereum ETFs See No Activity Amid Ongoing Market Struggles

Spot Ethereum Etf

Although trading volume of $174.2 million, US spot Ethereum ETFs showed no inflows or outflows on August 30, the second straight day of flat activity. Data from London-based Farside Investors revealed the lack of movement, which reflected the continuous difficulties Ethereum ETFs had since their introduction reflects.

Though total inflows have been significantly affected by notable withdrawals from Grayscale’s Ether ETF, BlackRock’s Ethereum ETF has remained the most active among US spot Ethereum ETFs. Launched on July 23, Grayscale’s fund has seen almost $2.5 billion worth of Ether sold in August alone, thereby underlining the downward pressure on ETH prices.

With ETH prices declining, the initial thrill of the introduction of US spot Ethereum ETFs has faded. This is in contrast to the much higher demand for Bitcoin ETFs, while funds with Ethereum concentration have had difficulty attracting the same degree of investor interest.

Industry analysts blame the weak success on the timing of the launches—which happened during the usually slower summer months. This time may have slowed investor excitement, which would have reduced activity and reflected a possible change in opinion toward Ethereum, the second-largest cryptocurrency by market capitalization.

The success of spot Ethereum ETFs going forward will rely on investor attitude and more general market conditions as the market settles. It remains to be seen whether these ETFs can pick up speed in the next months given the present flat activity.

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