Large outflows from Ether funds contrast with movements seen in Bitcoin and other cryptocurrencies.
Ethereum exchange-traded products endured a turbulent final week of June, recording the highest outflow since August 2022.
According to CoinShares’ weekly analysis, investors withdrew $61 million from Ether (ETH) investment products between June 24-29, bringing the total outflows for the past two weeks to $119 million and June’s total balance to $37 million in funds withdrawn. The slump has made Ether funds the worst-performing asset year-to-date in terms of net flows, with $25 million withdrawn so far.
The cryptocurrency saw its price decline over 8.7% in June despite the approval of Ether exchange-traded funds (ETFs) in May by the United States Securities and Exchange Commission (SEC).
