What is established: BlackRock’s Ethereum fund, the iShares Ethereum Trust with the ticker ETHA, has shed 580,145 ETH within a month, about $1.3 billion, according to data from analytics service Lookonchain. On Monday, US spot ether ETFs recorded a further $139.7 million in net outflows, almost entirely from ETHA. Our assessment follows further down: as long as these fund flows do not reverse, the ETH price faces a steady seller that the known buyers are not offsetting.
Ether cost $2,249 on Tuesday morning, 1.4 percent less than 24 hours earlier and 16.6 percent less than 30 days ago. The range over the past 24 hours ran from $2,235 to $2,301. Where the price could head over a horizon of months is covered in our Ethereum price prediction. This piece is about the shorter term, and right now that depends more on the funds in New York than on the blockchain itself.
A spot ETF is an exchange-traded fund that actually holds the underlying asset, in this case real ether at a custodian. When investors buy fund shares, the fund has to acquire ether. When they redeem shares, its holdings shrink.
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