Ethereum

Based

<ul> 
 <li>The trading volume in August hit a new low, not seen since November 2023.</li> 
 <li>The total monthly trading volume of CME Ethereum futures in August was $20.8 billion.</li> 
</ul> 
In August, the volume of Ethereum futures traded on the Chicago Mercantile Exchange (<a href="https://thenewscrypto.com/bitcoin-open-interest-on-cme-group-hits-record-levels/" target="_blank" rel="noreferrer noopener">CME</a>) hit a multi-month low. Based on the data dashboard provided by The Block, the total monthly trading volume of CME Ethereum futures in August was $20.8 billion. From $30.5 billion in July, the expected dollar trading volumes represent a 31% drop. The trading volume in August hit a new low, not seen since November 2023. 
The CCData monthly Exchange Review for this week also saw a decline in CME Ethereum futures trading activity.&nbsp; Institutional interest in <a href="http://ethereum.org" target="_blank" rel="noreferrer noopener nofollow">Ethereum</a> has been lower than anticipated, as shown by the drop in trading volumes for Ethereum instruments. 
<h3 class="wp-block-heading" id="h-overall-pessimistic-investor-sentiment">Overall Pessimistic Investor Sentiment</h3> 
Trading volumes for spot Ethereum ETFs, which are managed by corporations like Fidelity and <a href="http://blackrock.com" target="_blank" rel="noreferrer noopener nofollow">BlackRock</a>, also fell in August compared to July, according to statistics. 
Net withdrawals of $47.4 million were observed by U.S. spot Ethereum ETFs on Tuesday, the largest daily negative flows since August 2. At $52.31 million, the Grayscale Ethereum Trust (ETHE) was the only spot ether ETF to announce outflows for the day. 
&nbsp;There were no flows into any of the other seven spot ether ETFs, but $4.91 million went into Fidelity’s FETH. From $173.66 million last Friday to $163.5 million on Tuesday, the daily trading volume of these ether ETFs decreased. 
The most recent day that U.S. spot bitcoin exchange-traded funds had negative flows was Tuesday. The net withdrawals for the 12 spot bitcoin ETFs on Tuesday were $287.78 million. The highest negative flows recorded since May 1st, as per <a href="https://sosovalue.xyz/" target="_blank" rel="noreferrer noopener nofollow">SosoValue</a> statistics. 
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Ethereum Futures Trading Volume on CME Hits Multi-Month Low

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