Ethereum
Ethereum products see highest outflows since 2022, ahead of Ether (ETH) ETFs
Professional Investors Withdrew Over $120 Million From Ether (ETH)— tracked exchange-traded products over the past two weeks, cryptocurrency firm CoinShares said in a report Monday.
These products have seen $60 million in net outflows each over the past two weeks, the most since August 2022. Elsewhere, multi-assets and bitcoin (BTC) ETPs saw inflows of $18 million and $10 million respectively, suggesting sentiment may be changing.
Ether ETFs are set to become available for trading in the United States after the Securities and Exchange Commission (SEC) approved the applicants’ filings last month. The regulator must also approve their S-1 filings before the products are allowed to trade.
Firms such as Galaxy say Ether ETFs could see $5 billion in net inflows in the first five months, while Bitwise expects $15 billion during their first 18 months. Demand for the planned products is expected to come from independent investment advisors and brokerage/dealer platforms.