Ethereum ETP had a net outflow of about $63.5 million last week

Cointime2024/05/16 11:16

By: Cointime

According to Bloomberg data cited in ETC Group's weekly report, global net outflows of Ethereum ETP were about $63.5 million last week, with the ETF listed in Hong Kong suffering the biggest losses. Meanwhile, Bitcoin ETP saw net inflows of $92.5 million last week. There may be several reasons why Ethereum has lost favor with investors, including fierce L1 competition and uncertainty surrounding the approval of a US Ethereum spot ETF.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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The cryptocurrency market experienced a sharp decline on December 1, with bitcoin falling below $87,000 and ethereum losing the $2,900 mark. The total liquidation of contracts across the market reached $528 million. Market sentiment has turned cold, leverage is retreating, and increased uncertainty in Federal Reserve policies has intensified the sell-off. Summary generated by Mars AI. The accuracy and completeness of the content generated by the Mars AI model are still in the process of iterative improvement.

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Ethereum ETP had a net outflow of about $63.5 million last week

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