Ethereum-focused exchange-traded funds are continuing to see significant outflows of funds, while Bitcoin funds are showing growth by attracting investors.
Current Outflows from Ethereum ETFs
For 10 consecutive trading days, Ethereum funds have recorded outflows totaling $53 million. BlackRock's iShares Ethereum Trust ETF (ETHA) lost $40 million, while the Grayscale Ethereum Mini Trust and Fidelity’s Ethereum Fund also saw outflows of $9.33 million and $3.32 million, respectively.
Ethereum ETF Staking Proposal Awaits Review
Several issuers have applied for SEC approval to add staking features to Ethereum ETFs. Proposals like the 21Shares Core Ethereum ETF are seen as potential catalysts for reviving investment inflows.
Other Bitcoin ETFs Face Challenges
Despite overall growth, not all Bitcoin ETFs are seeing positive flows. The ARK 21Shares Bitcoin ETF recorded $9 million in outflows, indicating diverse investor sentiment among issuers.
Continued outflows from Ethereum ETFs alongside growth in Bitcoin funds highlight differences in investor interest across various cryptocurrency products. Introducing staking could change the narrative for Ethereum ETFs.
