As we mentioned in Bitcoin earlier, Ethereum ETFs had a strong trading day on July 23, with inflows reaching more than $106 million.
The price of Ethereum (ETH) fell by 10% after Ethereum ETFs saw $133 million in outflows on the second day.
The second day of Ethereum ETF trading saw a significant change from the first day, as more than $133 million was withdrawn, which greatly impacted the price of Ethereum.
The price of Ethereum fell 10% in one day in response to large outflows, reinforcing initial reports that predicted approval and the start of trading would mark the moment of selling news.
However, the situation changed dramatically on July 24. The Grayscale product saw outflows of $326.9 million, while there was little demand for other funds, bringing total withdrawals to $133.3 million.
Fidelity's FETH was the only one to record notable inflows of $74.5 million.
