Ethereum: From strong demand to a 23-week outflow, how ETH ETF sentiment collapsed

The Ethereum ETF has experienced over 23 consecutive weeks of outflow, suggesting institutional investors are losing interest in holding Ethereum [ETH] in their portfolios. Notably, institutional demand was strong through August and September. However, demand plummeted in October. Withdrawals from institutional clients totaled over $1 billion by the 30th of October. Of those withdrawals, $155.8 million were withdrawn in the last session. Interestingly, a large portion of those withdrawals, $76.6 million, came from BlackRock's ETHA alone. It's worth noting that the persistent selling has correlated with ETH dropping from almost $2,700 in late September to approximately $2,300. Additionally, continued withdrawals may limit the ability for institutional client demand to provide support for price increases. Furthermore, it appears investors have turned to alternative investments or reduced overall cryptocurrency exposure.

BeCrypto News shows a short excerpt and links to the publisher. The full report belongs to AMBCrypto.