Ethereum, which tracks nine US-listed exchange sales funds in red for several consecutive days, has returned with the influx.
summary
- Ethereum ETF recorded a net inflow of $288 million on August 21, ending its several consecutive days of losses.
- ETH prices are under pressure, with trading slightly above $4,238, down 0.72% over the past 24 hours, but up 15%.
- The Bitcoin ETF continued to see outflow, losing $194 million, marking its fifth consecutive day of withdrawal.
The Ethereum ETF recorded a net inflow of $288 million on August 21, ending the four-day performance stripe. Sosovalue data shows BlackRock’s ETHA leads the inflow with a $133 million share of Lions, significantly outpacing the remaining funds.
Fidelity’s Feth was followed by a $29 million miner, with the remaining publishers drawing far fewer numbers within the $6 million to $7 million range. As ETH (ETH) continues to decline, new influxes have been brought about, suggesting that institutional investors are slowly returning interest.
At the time of writing, ETH has fallen 0.72% over the last 24 hours, exceeding just $4,238. The second-largest code has been on a downward trend for weeks after a lack of rallies above $4,700 and struggled to maintain momentum. So far this week, ETH has fallen by around 8%, but has risen 15% this month.
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The price decline over the weeks was one of the biggest drivers of the exchange work fund’s negative performance, losing nearly $926 in bulk during a bleeding streak.
Ethereum ETF outperforms Bitcoin ETF
Ethereum-centric funds are beginning to stabilize, but Bitcoin (BTC) ETFs are under pressure. Investors have deducted money from exchange funds tracking BTC throughout the week, following profit-making efforts and wider cooling demand.
During its latest trading session, Bitcoin ETF recorded a $194 million outflow, unlike its Ethereum counterpart. This marked the fifth consecutive loss of funds, with total losses so far reaching nearly $1.2 billion.
The latest withdrawal focused on five of the 12 US list publishers, including BlackRock, Fidelity, Grayscale, Ark21Share and Franklin Templeton, while the remaining seven did not record activity.
Like ETH, Bitcoin is on a downward trend this week. At the time of writing, BTC traded at $113,216, down 5% in a week, roughly 8.8% below this month’s high of $124,128.
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