Ethereum

bullish

Bitcoin

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Banking giant JPMorgan recently <a href="https://www.coindesk.com/markets/2024/08/28/ether-spot-etf-flows-have-underwhelmed-versus-bitcoin-jpmorgan/?utm_source=twitter&amp;utm_term=organic&amp;utm_campaign=coindesk_main&amp;utm_medium=social&amp;utm_content=editorial" rel="noopener noreferrer nofollow">commented</a> on the underwhelming performance of spot Ethereum exchange-traded funds in the U.S., pointing to their larger-than-expected outflows from Grayscale's ETHE.&nbsp;
These products have suffered from roughly $500 million worth of outflows since their launch.&nbsp;
As&nbsp;<a href="https://u.today/ether-spot-etf-pessimistic-report-by-jpmorgan" rel="noopener noreferrer nofollow">reported by U.Today</a>, JPMorgan predicted that Ethereum ETFs would flop despite some bullish projections by crypto-native firms. Still, the relentless outflows recorded by ETHE were somehow a surprise even for the banking giant.&nbsp;
Ethereum ETFs made their much-anticipated debut in July after the U.S. Securities and Exchange Commission unexpectedly greelit them in June.&nbsp;
Unfortunately for the bulls, these products started recording outflows on the second day of trading due to Grayscale's bleeding.&nbsp;
The leading crypto asset manager also launched a mini-version of its recently converted Ethereum trust. However, it only managed to attract a modest $200 million worth of inflows.&nbsp;
Since there is little demand for Ethereum ETFs, asset managers are exploring hybrid ETFs that combine Bitcoin and Ethereum, according to JPMorgan.
<h2 id="breaking-the-outflow-streak">Breaking the outflow streak&nbsp;</h2>
On Aug. 28, Ethereum ETFs did manage to break the nine-day outflow streak by finally recording $5.8 million worth of inflows.&nbsp;
Expectedly, BlackRock's ETHA led the way with $8.3 million worth of inflows.

JPMorgan Pans Ethereum ETFs

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