Ethereum

<p><strong>Exchange Traded Funds (ETF) Ethereum recently recorded negative results for the second consecutive day. This trend has raised concerns among investors and crypto market analysts.</strong></p>
<h2 id="h-crypto-les-etf-ethereum-enregistrent-des-pertes-importantes">Crypto: Ethereum ETFs record significant losses!</h2>
<p>On July 24, 2024, Ethereum ETFs saw net outflows of $113.3 million! Mainly due to massive sales from the Grayscale Ethereum Trust (ETHE). The latter experienced outflows of $326.9 million, which significantly affected the overall performance of the new crypto funds, ETF <a href="https://www.cointribune.com/en/crypto-tron-surpasses-ethereum-with-8-1-billion-transactions/" target="_blank" rel="noopener noreferrer nofollow">Ethereum</a>.</p>
<div class="my-4">
 <div class="ads " data-page-type="" data-location="1">
 </div>
</div>
<p>The eight newly launched Ethereum ETFs mostly recorded net inflows. The Fidelity Ethereum Fund (FETH) and the Bitwise Ethereum ETF (BITW) led the way with net inflows of $74.5 million and $29.6 million respectively. However, these inflows were not enough to offset the massive outflows from the Grayscale Ethereum Trust.</p>
<p>The conversion of the Grayscale Ethereum Trust into a spot ETF allowed crypto investors to sell their shares more easily, leading to a wave of sales. In just two days, the Grayscale Ethereum Trust recorded outflows of $811 million, more than 9% of its holdings.</p>
<div class="affiliate-button"><a class="affiliate-button__link" href="https://bitvavo.com/fr/affiliate/coinmedia?a=_cta" target="_blank" rel="noopener noreferrer nofollow">€20 bonus for registering on Bitvavo</a> <a class="affiliate-button__disclaimer" href="https://www.cointribune.com/en/sponsored-content/" target="_blank" rel="noopener noreferrer nofollow">This link uses an affiliate program.</a>
</div>
<h2 id="h-la-reaction-de-l-eth-est-immediate">ETH’s reaction is immediate!</h2>
<p>The price of Ethereum was impacted by these outflows. On July 24, ETH was trading at $3,172, down more than 6.8% in 24 hours and 7.4% over the week. Analysts expect Ethereum’s price to remain sensitive to the inflows and outflows of the ETFs in the coming days. The current volatility of the crypto market, combined with ETF movements, could continue to influence ETH prices.</p>
<p>The negative results of Ethereum ETFs for the second consecutive day highlight the challenges faced by these new financial products. Investors will need to closely monitor <a href="https://www.cointribune.com/en/kamala-harris-aims-to-eradicate-bitcoin-crypto-in-danger/" target="_blank" rel="noopener noreferrer nofollow">crypto market trends</a> and ETF movements to navigate this period of increased volatility.</p>

Crypto: Ethereum ETFs Drop for 2 Consecutive Days! What’s Happening?

目錄

Cointribune EN

在 2024年7月26日發表的其他文章

When will Hamster Kombat be listed: Rumors and community reactions

BLOCKLORDS Unveils ‘Influence’ Feature Connecting $LRDS, Players, & Strategy

Cypherpunk Holdings Ramps Up Solana Holdings to $14M, Plans Validator Node

Australia’s Big Banks Block Crypto Payments Amid Rising Crypto Popularity

Ethereum (ETH) may remain under pressure on Grayscale selling

Looking Back at Pi Network’s ‘Pi2Day Challenge’

訂閱免費電子報，每天收取加密貨幣最新動態！