Ether ETFs Experience Significant Outflows Amid Recession Concerns
Despite the recent outflows, the price of ether has surged by more than 16% in the past month, buoyed in part by the passage of the GENIUS Act.
Spot Ether ETFs have seen a massive outflow of $952 million over the course of five days, signaling growing fears of an impending recession. The significant withdrawals come at a time when investors are becoming increasingly cautious about the economic outlook.
However, despite the outflows, the price of ether has shown resilience, with a notable increase of over 16% in the past month. The positive momentum in the ether market has been supported by various factors, including the recent approval of the GENIUS Act.
The GENIUS Act, which aims to promote innovation and technological advancement, has fueled optimism among ether investors, contributing to the cryptocurrency's impressive performance despite the overall market uncertainty.