Ethereum Surges 2%, But ETFs See $20M Outflow – What’s Next for ETH?

The post Ethereum Surges 2%, But ETFs See $20M Outflow – What’s Next for ETH? appeared first on Coinpedia Fintech News

Ethereum (ETH) has risen by 2%, now trading at $2,368 in the past 24 hours. However, Ethereum exchange-traded funds (ETFs) continue to struggle, seeing another day of outflows totaling $20.14 million.  With a history of weak third-quarter performance, could this signal trouble ahead for ETH, or is a breakout on the horizon?

According to Lookonchain, a blockchain analysis platform, Ethereum ETFs saw net outflows of $20.14 million on September 12, marking the second day of consecutive outflows. This outflow was driven entirely by Grayscale’s ETHE, which saw a negative flow of the same amount. With this latest drop, the historical cumulative net outflow now stands at $582.9 million.