- Ethereum spot ETFs saw a total net outflow of $5.984 million on September 6, according to Sosovalue data.
- Liquidity challenges continue for Ethereum ETFs, with a 20% drop in U.S. market depth, as per Sosovalue reports.
Recently, Sosovalue reported a total net outflow of $5.984 million in Ethereum spot ETFs. Grayscale’s ETHE ETF experienced a substantial outflow of $10.7028 million, while BlackRock’s ETHA ETF witnessed an inflow of $4.7188 million.
At present, the total net asset value of Ethereum spot ETFs is $6.094 billion. This shows continuous market movements, demonstrating that, despite inflows in some places, the overall trend for Ethereum spot ETFs leads to a net outflow.
On September 6, the total net outflow of Ethereum spot ETF was $5.984 million. Grayscale ETF ETHE had an outflow of $10.7028 million, and BlackRock ETF ETHA had an inflow of $4.7188 million. Currently, the total net asset value of Ethereum spot ETF is $6.094 billion.…
— Wu Blockchain (@WuBlockchain) September 7, 2024
Liquidity Challenges Continue as Ethereum ETFs See Major Capital Outflows
Previously, CNF highlighted the liquidity problems that Ether ETFs face, particularly on US-based platforms. The market depth on these exchanges fell by 20%, to approximately $14 million. Similarly, international exchanges saw a 19% drop, leaving liquidity at barely $10 million.
Since the launch of Ethereum ETFs, investors have withdrawn over $500 million, aggravating market volatility. This huge capital outflow has exacerbated market volatility, making liquidity a major concern for many financial products.
On the other hand, as we previously reported, Coinbase owns a sizable piece of the custodian market for both Bitcoin and Ethereum ETF issues. This concentrated role provides a possible vulnerability because it becomes an appealing target for hackers.
The FBI recently issued a warning regarding North Korean hackers targeting ETF issuers, indicating a shift in their focus away from traditional DeFi platforms and CEX. These attacks, aimed primarily at ETF issuers, add significant dangers to an already volatile market. Investors should be watchful as these cybersecurity dangers evolve, affecting the overall crypto ecosystem.
Meanwhile, as of writing, ETH is trading at $2,271.37 after dropping 4.35% over the last 24 hours, with daily trading volume skyrocketing 98% to $26.230 billion.
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