Wed Sep 25 02:22:49 UTC 2024: ## US Spot Ethereum ETFs See Largest Outflows Since July Amid Market Volatility
**New York, September 24, 2024** – US spot Ethereum ETFs experienced a significant downturn on Monday, September 23, with net outflows reaching $79.2 million – the largest since late July. Grayscale’s Ethereum ETF (ETHE) led the negative flow, registering a net outflow of $80.5 million.
Despite the significant outflows, daily trade volume for the spot Ether ETFs reached $167.35 million, indicating continued investor interest.
In contrast, US spot Bitcoin ETFs saw positive net inflows of $4.56 million, marking their third consecutive day of gains. Fidelity’s FBTC led the positive flows with $24.93 million in inflows, while BlackRock’s IBIT followed with $11.54 million.
The recent market fluctuations are attributed to favorable macroeconomic factors, including the US Federal Reserve’s rate cut and the Bank of Japan’s decision to maintain interest rates steady.
Bitcoin and Ethereum prices have rebounded strongly in recent days, with BTC surpassing $64,000 on Monday and ETH breaching the $2,600 mark. Both cryptocurrencies have seen gains of over 5% and 11% respectively in the past week.
The contrasting trends in Ethereum and Bitcoin ETFs highlight the inherent volatility in the crypto market. While investors remain cautiously optimistic about the future of Bitcoin, the recent outflow in Ethereum ETFs suggests concerns surrounding the altcoin’s short-term prospects.
**Tech Report** is a leading source for unbiased tech news and reviews, providing in-depth analysis of the latest developments in the cryptocurrency space.
First Piper 