Ethereum ETFs lose $170M in three days as ETH faces further price pressure – Can bulls step in?
Photo: AMBCrypto
Recent Ethereum spot ETF withdrawal trends indicate that institutional demand for Ethereum [ETH] is decreasing, putting downward pressure on the capital backing Ethereum. Withdrawals of approximately $170.21 million were recorded during three consecutive days through October 28th. Despite this decrease in withdrawals of $88.58 million on the 26th of October to $21.41 million, it indicates the trend of selling may be slowing. However, no reversal in buying has occurred. As ETF withdrawals continue, the total assets within these ETFs have decreased to $14.27 billion. Also, the cumulative net inflows for all ETH-based ETFs have dropped to $12.55 billion.
Source: AMBCrypto
