Ethereum struggles with ETF outflows exceeding $370 million in a long-term downtrend

In summary

Ethereum has seen a 10% decrease in value over the past 20 days, currently trading at $2,021.

Ethereum spot ETFs are facing outflows of $370 million, indicating a decline in investor confidence and negative sentiment.

Open interest in Ethereum has dropped by 20%, reflecting reduced market participation and weak momentum.

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Declining investor confidence in ETH with bleeding from spot ETFs

According to on-chain data from SosoValue, Ethereum spot ETFs have now recorded 11 consecutive days of outflows, with total withdrawals exceeding $370 million.