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

PANews March 24th news, according to Bloomberg, the U.S. exchange-traded fund that directly invested in ETH suffered its longest outflow record since it was launched in July 2024. Nine ETFs have been net outflows for 13 consecutive days, with a total outflow of approximately US$415 million. By contrast, the U.S. Bitcoin ETF has rebounded from a period of weakening investor demand, and has achieved net inflows for six consecutive days as of March 21.

Standard Chartered cut its year-end price target of ETH by 60% to $4,000 in a report last week, citing concerns about Ethereum’s scalability. In a report, the bank said Ethereum was “largely commodified within its own L2 framework”, which created doubts about its long-term competitive advantage.