Spot Ethereum ETFs have experienced their longest streak of outflows, totaling $370 million over 12 trading days, amidst increased staking of ETH and declining asset prices. Notably, the iShares Ethereum Trust and Grayscale Ethereum Trust accounted for the largest withdrawals, totaling $146 million and $106 million, respectively. The price of Ethereum has dropped significantly, currently trading around $1,950 from $2,200 earlier in the month, amid investor concerns regarding its competitiveness against other blockchain platforms. Simultaneously, Bitcoin ETFs have regained $660 million amid recovery efforts. Robert Mitchnick from BlackRock indicated that the failure of Ethereum ETFs can be partly attributed to their prohibition on stakingā€”a critical aspect for generating investment returns. The amount of staked Ethereum has risen to 33.8 million ETH. Despite recent challenges, Ethereum funds recorded $2.45 billion in net inflows since their inception, but they trail far behind Bitcoin ETFs, which have amassed over $35 billion. Analysts suggest that the market is awaiting stronger catalysts for Ethereum as institutional appetite for Bitcoin grows.

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