Spot Ether ETFs Experience Outflows

Spot ether (ETH) exchange-traded funds (ETFs) in the U.S. recorded their 11th consecutive day of net outflows, totaling a loss of approximately $358.1 million as the price of ether dropped nearly 7%.

On Tuesday, BlackRock’s iShares Ethereum Trust ETF (ETHA) faced $12.9 million in outflows, which contributed to a net loss of $137.6 million during this period. Other significant contributors to the outflows included Fidelity’s FETH and Grayscale’s ETHE.

Currently, spot ether ETFs hold around $7 billion worth of ether and have seen a cumulative net inflow of $2.45 billion since their launch in July, according to SoSoValue data.

The price of ether decreased from approximately $2,150 on March 8 to about $1,990 as of Thursday, resulting in a year-to-date loss of roughly 40%.

In contrast, U.S. bitcoin (BTC) ETFs reported inflows for the fourth consecutive day, accumulating a total net inflow of $35.8 billion since January of last year.