Institutional demand for Ethereum appears to have slowed significantly as no new capital inflows were recorded on any day of the week over the past week.
data The Ethereum ETF recorded total weekly outflows of $65.65 million, the highest weekly outflow since January, according to data provided by SosoValue.
Ethereum expects demand from institutional investors to slow down
Last week turned out to be the poorest week for Ethereum ETFs since January, but price movements for the asset were mixed.
This suggests that the short-term gains seen by the day of the week may have been driven by market hype and sentiment rather than demand from investors, especially institutional investors.
Nevertheless, the extension of withdrawals seen on all days of the week suggests that institutional investors are wary and hesitant to lock up their funds in Ethereum-based investment products.
The highest outflow occurred on Tuesday, May 12th, when the fund recorded total outflows of $130.62 million in 24 hours as market sentiment turned negative.
Apparently, the temporary price increase witnessed on some days failed to generate interest from institutional investors. Ethereumcausing steady withdrawals seen throughout the week.
BlackRock maintains lead
BlackRock established its leadership not only in the Bitcoin ETF market, but also in the Ethereum ETF ecosystem as its Ethereum ETF, ETHA, had the highest recorded outflows on any day of the week.
Although overall momentum has been weak and we have not seen any inflows throughout this week, BlackRock remains a major player in the Ethereum ETF market.
