Ethereum ETF Outflows Surge, Reaching Second Largest Daily Withdrawal as Bitcoin Price Falls

The Ethereum ETF market experienced significant outflows exceeding $197 million on August 18th, with investors pulling funds away at the second-highest daily rate ever recorded. This follows a downward trend in both Bitcoin and Ethereum prices. The declines are attributed to broader investor caution as price volatility persists in the crypto market, prompting traders to seek stable investment options, particularly those providing direct utility in payment transactions.