{"id":15566,"date":"2024-07-08T16:07:18","date_gmt":"2024-07-08T20:07:18","guid":{"rendered":"https:\/\/sikaoer.com\/ethereum-is-the-worst-performing-crypto-in-net-flows-this-year\/"},"modified":"2024-07-08T16:07:18","modified_gmt":"2024-07-08T20:07:18","slug":"ethereum-is-the-worst-performing-crypto-in-net-flows-this-year","status":"publish","type":"post","link":"https:\/\/sikaoer.com\/ethereum-is-the-worst-performing-crypto-in-net-flows-this-year\/","title":{"rendered":"Ethereum is the worst performing crypto in net flows this year"},"content":{"rendered":"
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Crypto exchange-traded products (ETF) experienced their third consecutive week of net outflows, totaling $30 million. Notably, Ethereum-indexed ETPs saw over $60 million in outflows last week, their largest outflows since August 2022, according to asset management firm CoinShares. This makes Ethereum (ETH) the year\u2019s worst-performing asset in terms of net flows.<\/p>\n
Additionally, ETH\u2019s total outflows to $119 million over the past two weeks. In contrast, multi-asset and Bitcoin ETPs saw inflows of $18 million and $10 million, respectively. The outflows from short Bitcoin positions totaled $4.2 million, indicating a potential shift in market sentiment.<\/p>\n
Despite the grim weekly performance for Ethereum ETPs, the rate of outflows has slowed compared to previous weeks.<\/p>\n Regionally, the US, Brazil, and Australia recorded inflows of $43 million, $7.6 million, and $3 million, respectively. Conversely, Germany, Hong Kong, Canada, and Switzerland faced outflows of $29 million, $23 million, $14 million, and $13 million, respectively.<\/p>\n While many providers reported minor inflows, these were overshadowed by a significant $153 million in outflows from Grayscale. Weekly trading volumes surged by 43% to $6.2 billion, though this figure is still below the $14.2 billion average for the year.<\/p>\n Yet, although a generally positive sentiment towards crypto could be seen this year, blockchain equities have suffered, with outflows reaching $545 million, accounting for 19% of assets under management.<\/p>\n Share this article<\/p>\n