- Ethereum ETF net inflows could begin to affect ETH’s price as Grayscale outflows slow down.
- Genesis Trading’s headwind could outweigh ETH ETF impact in the coming weeks.
- Ethereum could form a W chart pattern if it bounces around key support.
Ethereum (ETH) is down 2.5% on Friday following Genesis Trading ETH’s transfer to several addresses in preparation for repayment of creditors. Meanwhile, ETH ETFs saw net inflows for the second time this week as Grayscale outflows slowed.
Daily digest market movers: ETH ETF inflows, Genesis headwinds
Ethereum ETFs recorded their second day of net inflows on Thursday with a total net flow of $26.7 million, according to data from Farside Investment. For the first time since their launch, inflows in BlackRock’s iShares Ethereum ETF (ETHA) outweighed outflows in Grayscale Ethereum Trust (ETHE).
Total Ethereum ETFs and their flows:
TOTAL NET FLOW: 26.7
ETHA:…
