Ethereum ETFs Experience Massive Outflows Amidst Economic Uncertainty

US-traded Ethereum exchange-traded funds (ETFs) have witnessed substantial outflows totaling $578 million over a three-trading day period between August 18th and 21st. This massive outflow is attributed to macroeconomic uncertainty, not declining institutional interest, according to analysts. While the price of ETH has strong fundamentals, it remains vulnerable to unforeseen macroeconomic developments. The outflows coincide with heightened market volatility as investors take a defensive stance ahead of Fed Chair Jerome Powell’s Jackson Hole speech on August 22nd.