Recent data indicates that Ethereum ETF is facing significant outflows, signaling declining investor interest and an overall weakening market position for ETH.
Significant Outflows from Ethereum ETF
Ethereum ETFs recorded $422 million in outflows on August 19, marking the third consecutive day of losses. Major issuers like Fidelity and Grayscale play a pivotal role in this process. For instance, Fidelity topped the outflow list with $156 million, followed by Grayscale with $122 million.
Price Declines of ETH and Their Consequences
After failing to maintain its recent price gains, ETH is currently in a downward trend and is trading around $4,100. Recently, the asset has lost more than 10% of its value, leading to significant sell-offs among major issuers.
The Future of Ethereum ETF Under Uncertainty
Despite recent sales, Ethereum ETF issuers still hold a significant amount of ETH, controlling about 5% of the total supply, which is approximately $26 billion at current prices.
The current situation indicates uncertainty for Ethereum ETF, where further outflows may intensify if ETH cannot regain upward momentum.
