As seen with the sluggish price action of ETH, the cryptocurrency market seems to be witnessing a phase of investor uncertainty and indecisiveness. These struggles appear to be finally translating to the performance of the Ethereum ETFs, which just recorded their worst week in terms of capital inflows.
BlackRock’s iShares Ethereum Trust (with the ticker ETHA) witnessed the most significant on the day, registering a total net outflow of $309.88. Grayscale’s Ethereum Trust (ETHE) followed in second place, seeing a total net withdrawal of $51.7 million to close out the week.
Fidelity Ethereum Fund (FETH) and Grayscale’s Ethereum Mini Trust (ETH) recorded total daily net outflows of $37.7 million and $32.62 million, respectively. 21Shares Ethereum ETF (TETH) was the only other spot Ether fund that recorded any activity on Friday, posting a net outflow of $14.68 million.
Less than two weeks ago, the price of Ethereum set a new all-time high and was on the verge of breaking the $5,000 mark for the first time ever. However, the altcoin has since fallen under significant bearish pressure, struggling to break above $4,500.
