Bloomberg: US ETH spot ETF has experienced net outflows for 13 consecutive days, the longest outflow cycle since its launch

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PANews
03-24
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PANews reported on March 24 that, according to Bloomberg, the US exchange-traded funds directly investing in ETH have experienced the longest outflow record since their launch in July 2024. 9 ETFs have seen net outflows for 13 consecutive days, with a total capital outflow of approximately $415 million. In contrast, US Bitcoin ETFs have rebounded from a period of weakened investor demand, achieving net inflows for 6 consecutive days as of March 21.

Standard Chartered Bank lowered its year-end target price for ETH by 60% to $4,000 in a report last week, citing concerns about Ethereum's scalability. The bank stated in a report that Ethereum has "essentially been commoditized within its self-created L2 framework," which raises doubts about its long-term competitive advantage.

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