US Bitcoin ETF regains inflows, Ethereum ETF continues to suffer withdrawals

Zhitong Finance APP learned that U.S. ETFs that invest directly in Ethereum have suffered the longest daily withdrawal record since their launch in July 2024, highlighting the volatile demand for the second-largest cryptocurrency.

Data shows that the nine ETFs have seen net outflows for 13 consecutive days, with a total outflow of about $415 million. In contrast, the U.S. Bitcoin ETF has rebounded from a period of weakening investor demand, with net inflows for 6 consecutive days as of March 21.

The token has fallen by about 40% over the past year. Over the same period, the broader cryptocurrency index has risen slightly by 10%.

U.S. Ethereum ETF sets record for longest daily outflow

Standard Chartered Bank cut its year-end target price for Ethereum by 60% to $4,000 in a report last week, citing concerns about Ethereum's scalability. The bank said in a report that Ethereum "has been largely commoditized within its self-created Layer 2 framework," which casts doubt on its long-term competitive advantage.