Spot Ether ETFs Face Challenging First Week

Spot Ether ETFs Face Challenging First Week

From etftrends.com

The price of ether fell in the wake of the launch of the spot ether ETFs on Tuesday, July 23. Ether (ETH) declined 7.82% in its first three days of spot ether ETF trading. Speculation regarding the price action includes a “sell-the-news” response as well as net negative flows in the spot ETFs. It’s worth noting that bitcoin prices also declined in the wake of the spot bitcoin ETF launches in January. BTC prices dropped 14% between January 10 and January 23, according to Y-charts data. Significant outflows of over $1 billion, as of Friday’s close of trading, from the Grayscale Ethereum Trust (ETH), likely due ... (full story)

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