Data: Last week, Ethereum ETP had a net outflow of approximately 63.5 million USD

ChainCatcher news, according to CoinDesk, ETC Group cited Bloomberg data in its weekly report, indicating that last week there was a net outflow of approximately $63.5 million from global Ethereum ETPs, with the largest outflow coming from ETFs listed in Hong Kong. Bitcoin ETPs saw an inflow of $92.5 million last week. Several factors may have contributed to ETH losing investor favor, including competition from Layer 1 and ongoing uncertainty regarding the approval of spot ETH in the United States.

David Han, a research analyst at Coinbase Institutional, stated in a report on Wednesday: "The approval of spot Bitcoin ETFs in the U.S. has reinforced the narrative of Bitcoin as a store of value and its status as a macro asset. On the other hand, the unresolved questions regarding ETH's fundamental positioning in the cryptocurrency space still remain."