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19/08/25 13:07 UTC-04

U.S. Spot Ethereum Funds Hold More Than 5% of ETH

U.S. exchange-traded funds (ETFs) investing in Ethereum currently hold 6.3 million ETH worth about $26.7 billion. This accounts for 5.08% of the total supply of the leading altcoin, according to data from analytics platform Blockchain.

Meanwhile, according to SoSoValue, on Monday, August 18, spot ETH ETFs recorded net outflows of $196.6 million, marking the second-largest single-day outflow since their launch.

Before that, Ethereum-based exchange-traded funds had attracted more than $3.7 billion from investors over eight trading days. Last week, ETH ETFs drew in about $2.85 billion. This is significantly higher than the net inflow of $325.8 million recorded the previous week.

Bitcoin funds are also losing capital — on Monday, investors withdrew $121.8 million from them. On Friday, August 15, the outflow was much smaller at about $14.1 million.

Cryptocurrencies themselves also continue to decline. Over the past seven days, Ethereum has fallen by nearly 4.2%, while over the last 24 hours the leading altcoin dropped by 2.9%. Bitcoin fell by more than 4% over the week but gained about 1% in the past day.

At the time of writing, BTC was trading at $113,700, while ETH was priced at $4,191.

See also: "The Tokenized Assets Market Hits a Historic Capitalization Record"

#Ethereum (ETH) #Reserves #USA

Editor: Alyona Nabok
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