Ethereum ETFs pulled in $128.7 million for the day recording no outflows in the process.
It has been a year of inflows and no outflows so far for both Bitcoin and Ethereum Exchange Traded funds.
Bitcoin ETFs pulled in nearly $2 billion in the last two days driving Bitcoin price above $100,000.
Ethereum ETFs have witnessed minimal action so far pulling in a combined $186.9 million this year.
The majority of the Ethereum ETFs do not record any transactions. Only two out of the nine Ether ETFs recorded a transaction yesterday.
Farside Investors UK revealed that Blackrock’s ETHA led the inflows for the day pulling in $124 million.
Fidelity’s FETH recorded the remaining inflow and the only transaction for the day. The Ether ETF pulled in a paltry $4.6 million for the day.
The net inflow for the nine Ether ETFs stood at $128.7 million.
Ethereum Price Analysis
At the moment Ethereum is exchanging hands for $3,532 dropping by 4.3% in the last 24 hours.
The crypto asset surged to $3,700 yesterday Jan 6 before dropping to its current level of $3,532.
The Crypto asset is still down 26.2% from its all-time high of $4,878.
Ethereum ETFs have not helped Ethereum’s price condition as the ETFs underperformed.
Experts believe the underperformance of Ethereum ETFs is linked to the complexity of the ecosystem and the steep learning curve for investors compared to Bitcoin.
