Spot Ether ETFs See $952 Million Outflow as Recession Fears Rise

Investors in spot ether exchange-traded funds (ETFs) have pulled out a significant $952 million over five days, driven by concerns about an impending recession. This trend is primarily impacting firms like BlackRock and Fidelity who manage these ETFs. Notably, this movement coincides with increased interest in Bitcoin ETFs, suggesting potential changes in investor behavior and dynamics within the cryptocurrency market. The outflow highlights evolving market sentiment and volatility as investors shift their focus towards Bitcoin amid Ethereum’s declining prices.