Ethereum Price Drops 12% As Spot ETFs Witness Significant Net Outflows

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Ethereum Price Drops 12% As Spot ETFs Witness Significant Net Outflows - NewsBTC

Quick Summary:

Spot ETH ETFs Snap 18-Day Positive Inflows Streak According to data from SoSoValue, the US-based spot Ethereum ETFs logged a total net outflow of $75.11 million on Friday, December 20.

According to market data from SoSoValue, the ETHA exchange-traded fund posted nearly $103.7 million to close the week. Meanwhile, Fidelity’s Ethereum Fund (with the ticker FETH) recorded $12.95 million in net inflow on Friday.

While this price slump experienced by Ethereum has been linked to the US Federal Reserve rate cut, the recent drab performances of the spot ETH exchange-traded funds (ETFs) could also be associated.