U.S.-listed spot ether (ETH) exchange-traded funds (ETFs) recorded net inflows of nearly $49 million on Monday amid a 20% drop in its price, showcasing demand for the second-largest token by market capitalization.
Ether price cratered 20% with large amounts moved by Jump Crypto, leading to $340 million in ETH futures liquidations. Professional investors bought the dip, with ETH ETFs trading over $715 million.
Grayscale's ETHE saw outflows while Fidelity's FETH and VanEck's ETHV had inflows. Despite recent net outflows, data shows strong demand for Bitcoin ETFs compared to Ethereum.
ETH ETFs have seen $460 million net outflows post-launch, contrasting Bitcoin ETFs' $1 billion inflows in the first 12 days. Ethereum network applications' resilience reflects strong fundamentals.
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