The nine-spot Ethereum ETFs recorded no Inflows for the third time in a row losing $68.5 million in the process.
The Ether ETFs ended last week trading on a deficit, the third time in a row with no inflows.
Like the Bitcoin ETFs, Minimal trading was recorded with only two out of the nine Ethereum ETFs recording transactions.
The remaining Seven ETFs were null revealing very low investor activity on the Ethereum ETFs.
Farside Investor’s UK revealed that Fidelity’s FETH led the outflow for the day losing $65.4 million.
The only remaining transaction for the day was recorded on Bitwise ETHW which lost $3.1 million.
The remaining 7 transactions recorded no transaction revealing a significant drop in trading activities.
Ethereum drops below $4,000
Ethereum, the second-largest crypto asset by market capitalization dropped below $4000 following the general market bloodbath.
Ethereum at the moment is exchanging hands for $3,048 dropping by 7.1% in the last 24 hours.
The crypto asset is down 16.8% in the last seven days and 7.4% on a 14-day scale.
Ethereum Price action on a 7-day scale: Source: Coingecko
Ethereum dropped from a $3,700 price level to below $3000 shedding $700 on a 7-day scale.
In the last 12 hours, the total liquidation volume of the entire crypto network reached $558 million of which $503 million was long order liquidation.
The Total crypto market capitalization is down by 5% following the blood bath in the market at the moment.
