Ethereum ETFs Suffer Significant Outflows Amid Broader Crypto Weakness

Ethereum exchange-traded funds (ETFs) have been experiencing a streak of negative days, with significant outflows totaling $184 million over four consecutive days through April 30.

The trend is concerning, as it coincides with broader weakness in crypto investment products. Bitcoin ETFs also saw substantial outflows, shedding $476 million during the same period.

Cumulative net inflows for Bitcoin ETFs stand at $58.1 billion, but this recent outflow suggests that investors are becoming increasingly risk-averse. The divergence between Ethereum's price and ETF flows is notable, as the cryptocurrency's price climbed 2.2% over the same period, trading at $2,313 on Thursday.

On Myriad, a prediction market owned by Decrypt's parent company Dastan, users predict a high chance of Ethereum reaching $3,000 next. The current probability stands at 55%, up from 46% on Monday.