Ether ETFs Record Biggest Outflows Since July in Sign of Low Institutional Appeal
Coindesk
24 Sep 2024
Ether ETFs experienced the largest outflows since July, with over $79 million exiting on Monday.
The outflows were predominantly from Grayscale’s Ethereum Trust (ETHE), while other ETFs like Bitwise's ETHW saw minor inflows, highlighting Grayscale's significant influence on the market dynamics.
Despite an 11% rise in ether prices due to favorable macroeconomic conditions like Fed rate cuts, the ETF outflows indicate a disconnect where price increases do not align with investor sentiment towards Ethereum's future.
Ethereum may not resonate with traditional finance investors compared to Bitcoin's 'digital gold' narrative, some say.
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