Despite market sentiment being filled with 'extreme fear', Ethereum ETF saw a net inflow o
The cryptocurrency market has recently experienced a sharp decline, with Bitcoin dropping by about 17% in the past four days and even falling below the $50000 mark at one point. Panic is spreading throughout the market, with the US Bitcoin spot exchange traded fund (ETF) recording a net outflow of $168 million yesterday (5th), while the Ethereum spot ETF showed a net inflow.
According to Coinrank's data, the fear and greed index of the Bitcoin market has fallen into the "extreme fear" zone, with a reading of 17 points being the lowest point since July 2022. The Fear and Greed Index measures the current emotional changes in the Bitcoin market.
The panic in the market seems to be reflected in fund products. According to preliminary data from SoSo Value, the US Bitcoin spot ETF recorded a net outflow of $168 million yesterday, with Grayscale's GBTC offering the highest net outflow of $69.1 million.
However, the performance of Ethereum spot fund products has "decoupled" from the overall market. Data shows that the US Ethereum spot ETF recorded a net inflow of $48.73 million yesterday, second only to $106 million on its first day of trading. The Ethereum spot ETF with the highest net inflow amount is ETHA issued by BlackRock, with an amount of $47.1 million, followed by FETH issued by Fidelity, with an amount of $16.2 million.
