Bloomberg: US ETH spot ETF has experienced net outflows for 13 consecutive days, the longest outflow cycle since its launch

PANews reported on March 24 that according to Bloomberg, US exchange-traded funds that invest directly in ETH have experienced the longest outflow record since their launch in July 2024. Nine ETFs have experienced net outflows for 13 consecutive days, with a total outflow of approximately US$415 million. In contrast, US Bitcoin ETFs have rebounded from a period of weakened investor demand, with net inflows for six consecutive days as of March 21.

Standard Chartered cut its year-end price target for Ethereum by 60% to $4,000 in a report last week, citing concerns about Ethereum’s scalability. The bank said in a report that Ethereum has “largely become commoditized within its homegrown L2 framework,” casting doubt on its long-term competitive advantage.