Ethereum spot ETFs experienced net inflows totaling $55.71 millions on November 21, ending an eight day outflow streak.
The following is a summary of the information that you will find on this page.
- Ethereum ETFs broke a eight-day streak of outflows with net inflows totaling $55.71M.
- Fidelity FETH’s FETH fueled the recovery with $95.4M of inflows, while BlackRock experienced $53.7M of outflows.
- The price of ETH stayed at $2,800 or less, and fell by 12,9% each week, as well as 28,9% during the month.
BlackRock ETHA, which is managed by Fidelity, posted outflows of $53.68 millions, partly offsetting gains.
Ethereum has failed to rise despite the ETFs.ETHPrice over $2,800. ETH is down 12.9% for the last 7 days and by 28.9% in the 30 days. Also, the token’s price has fallen by 18.4% in the last year.
After $1.3 billion in ETF outflows, Fidelity is driving the recovery of ETFs
Ethereum ETFs suffered a $1.3-billion loss between November 11-20. The largest withdrawal was $261.59 millions on November 20, followed by 259.72 on November 13, and $182.80 on November 17.
BlackRock ETHA’s redemptions continued on 21 November with $53,68 million of outflows. Net inflows to the fund total $12.89 Billion.
Fidelity FETH brought in $95,40 millions on 21 November. Cumulative net inflows for FETH reached $2.54 billion.
Grayscale’s ETH Mini Trust recorded inflows of $7.73 Million, bringing the total assets to $1.42 Billion. Bitwise’s ETHW experienced $6.26 inflows. The cumulative assets of Bitwise are now $399.30 millions.
Grayscale ETHE, VanEck ETHV and Franklin’s TETH as well as 21Shares QETH had zero activity in November.
The total assets of ETH ETFs under management stood at 16.86 billion dollars as of 21 November.
The cumulative total of net flows across all ETH ETFs was $12.63 billion. The total value of the trades on November 21 was $2.30 Billion, down from $2.76 Billion the day before.
ETH struggles to maintain its price amid market decline
Ethereum price Bitcoin underperformed the market (BTCThe decline in Bitcoin and the other major crypto currencies over the last month is striking. Bitcoin experienced only a slight decline in value during this time period, while the 28.9% drop over 30 days was a stark contrast.
After eight days of withdrawals, totaling $1.3 billion, the ETFs received inflows for November 21, 2011. The withdrawals started on 11 November with $107.18 Million.
The biggest sales were recorded on November 17 and 20. On November 20, $261.59 millions in redemptions followed the $182.80-million outflow of November 17.
ETH was unable to regain $2,800 following ETF investments. This token’s performance for the last 14 days shows that it has dropped 19.4%. The drop suggests an increase in selling pressure.
“This article is not financial advice.”
“Always do your own research before making any type of investment.”
“ItsDailyCrypto is not responsible for any activities you perform outside ItsDailyCrypto.”
Source: crypto.news
