Yesterday was a historic day for Ethereum (ETH). The course flew into the air by more than 20%, which made it the best day in four years. But strikingly, the American stock market funds still had to wave a millions of amount.
3rd loss day in a row for ETH funds
Yesterday was already the third loss day in a row for the Spot Ethereum Exchange-Traded Funds (ETFs), according to data from Farside Investors. On Tuesday a net loss of $ 17.9 million was written down, on Wednesday $ 21.8 million flowed away and yesterday it was $ 16.1 million.
It marks the worst series for the stock market products since mid -April. And that while the course is performing better than ever.
Yesterday the Ethereum race set a monstercandle from +21.92% – with a jump from roughly $ 1,800 to $ 2,200. The last time the largest Altcoin had such a strong day was on May 24, 2021.
This was during the previous Bullrun, to which the Ethereum community probably still thinks back. This time the coin has not yet come close to what it has shown then. But yesterday’s performance has grown some hope and optimism again.
Yet the ETH Fund of Grayscale was, but the only one who managed to rake in new capital. A mere $ 3.2 million to be precise.
It was a very bad day for Fidelity’s Feth Fund, with an outflow of $ 19.3 million. The other seven funds did not see any significant money flows.
ETH course hits
Today the Ethereum Koers is also busy again. It has risen further to almost $ 2,500, the highest level since 3 March.
Currently the price is a bit lower at $ 2,300, but of course we cannot blame the coin.
If the price can stay above $ 2,200, the road seems to be cleared for a larger rally. Investors also keep an eye on ETH/BTC graph. ETH has gained a lot of terrain opposite Bitcoin, which could be a first cautious step towards an altseason.
Source: https://newsbit.nl/ethereum-etfs-verliezen-miljoenenfortuin-ondanks-vliegende-koers/
