The sentiment in the Ethereum (ETH) market is now mixed as a result of the delay in the launch of spot Ethereum ETFs. The ETFs, which were first projected to be available on July 2, are now likely to be released on July 8.
However, the initial anticipation surrounding their launch has diminished. The digital fund flows data from CoinShares indicates substantial outflows, representing its most unfavorable performance since August 2022.
Ethereum experienced a net outflow of $61 million, resulting in a total outflow of $119 million throughout the past fortnight. James Butterfill, the Head of Research at CoinShares, attributed this fall to the uncertainty resulting from the delay of the ETF. The price of ETH had a decline of 4.45% throughout the last 24 hours, reaching a value of $3,291.
As a result, both long-term and short-term investors of ETH have become less optimistic about its future performance. The “Ahead of the Curve” research by K33 Research indicates a growing inclination for Ethereum ETFs in the futures market, indicating substantial institutional interest.
In a just 15 trading days, the VolatilityShares 2x leveraged ETH ETF swiftly rose to become the largest futures-based ETH ETF in terms of ETH equivalent exposure.
