Ethereum ETFs recorded an abysmal day of trading pulling in only $1.2 million and recording a transaction in just one of its ETF products.
Investor activity has been dipping in both Ethereum and Bitcoin ETFs. The exchange-traded funds have witnessed minimal activity in recent weeks.
The peak in activity was recorded yesterday on Ethereum ETFs pulling in only $1.2 million. 8 out of the nine Ethereum ETFs recorded no transaction for the day in a shocking turn of events.
The inactivity could be attributed to investors holding their cards to their chest while awaiting Donald Trump’s inauguration. The dynamics of a Trump presidency on the crypto market could be a motivating factor for investors to withhold funds until the inauguration.
Stakeholders in the crypto industry are already lobbying Donald Trump to launch a strategic Bitcoin reserve within the first 100 days of his administration.
Farside Investors UK revealed that Bitwise ETHW pulled in $1.2 million, the only inflow for the day.
The remaining 8 Ethereum ETFs recorded no transactions continuing a growing trend of low investor activity in the two existing crypto ETFs.
Ethereum Price Analysis
Ethereum at the moment is exchanging hands for $3,193 dropping by 0.7% in the last 24 hours.
Ethereum is almost $1,000 down from the $4,000 mark it breached in the last month of 2024. The crypto asset is yet to breach its all-time high for three years.
Ethereum was currently retraced with Bitcoin earlier this week. It dropped to $3,000 on Jan 13 the same day Bitcoin dropped below the $90,000 mark.
The top two crypto assets have since recovered to $96,866 and $3,193.
