Ethereum Products See Highest Outflows Since 2022 Ahead of Ether ETFs
Summary
Over the past two weeks, professional investors have withdrawn more than $120 million from ether-tracked exchange-traded products (ETPs), marking the highest outflows since August 2022. Meanwhile, multiasset and bitcoin ETPs have seen inflows of $18 million and $10 million respectively. The Securities and Exchange Commission (SEC) recently approved filings for ether ETFs, which are nearing readiness for trading in the U.S. once their S-1 filings are approved. Galaxy predicts that ether ETFs could attract $5 billion in net inflows within the first five months, while Bitwise anticipates $15 billion in the first 18 months. The demand is expected to come from independent investment advisers and broker/dealer platforms.
