“The outflow come despite a broader crypto market rally fueled by recent Federal Reserve rate cuts, which helped lift ether prices by 11% over the past week.”, — write: www.coindesk.com
- Ether ETFs experienced the largest outflows since July, with over $79 million exiting on Monday.
- The outflows were predominantly from Grayscale’s Ethereum Trust (ETHE), while other ETFs like Bitwise’s ETHW saw minor inflows, highlighting Grayscale’s significant influence on the market dynamics.
- Despite an 11% rise in ether prices due to favorable macroeconomic conditions like Fed rate cuts, the ETF outflows indicate a disconnect where price increases do not align with investor sentiment towards Ethereum’s future.
- Ethereum may not resonate with traditional finance investors compared to Bitcoin’s ‘digital gold’ narrative, some say.
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