AUM of spot Ethereum ETFs has fallen to a record low

The assets under management (AUM) of exchange-traded funds based on the spot price of Ethereum have decreased to $5.21 billion, marking the lowest level since the products were launched.

Over seven weeks from February 23, ETH ETFs recorded a total outflow of $1.1 billion. This trend continued: on April 21, investors withdrew another $25.4 million, despite a slight market increase.

The main source of outflow was ETHE from Grayscale. Subsequently, the exchange-traded fund, converted from a trust, lost a total of $4.27 billion.