Ethereum ETFs continue poor performance

Ethereum ETFs continued their poor performance yesterday pulling in only $70 million and recording only three transactions. 

Ethereum ETFs have witnessed a streak of low investor activity following issues surrounding the Ethereum Ecosystem. 

Co-founder Vitalik Buterin revealed plans to revamp the Ethereum inner caucus citing laxity and inefficiency on the part of the team. 

The revamping efforts follow growing concerns on Ethereum’s long-term growth capacity. The ethereum community has criticized the network for a range of issues and a lag in the price of the native token. 

Ethereum has not broken its all-time high in 3 years making it a poor investment choice. 

Ethereum ETFs have underperformed since its launch in July last year. Analysts peg the problem on the steep learning curve for Ethereum compared to Bitcoin.

Farside investors revealed that Blackrock’s ETHA led the inflows for the day pulling $79.1 million. 

Fidelity’s FETH recorded the remaining inflow for the day pulling in $9 million. 

Grayscale’s ETHE recorded the only outflow for the day losing $17.4 million. 

The remaining 6 Ethereum ETFs recorded no transaction continuing the streak of poor performance by the Ethereum ETFs. 

Ethereum is currently exchanging hands for $3,292 surging by 0.9%. The Crypto asset is down by 5.7% on a 7-day scale.