Glassnode: The US Ethereum spot ETF has seen a net outflow for 23 consecutive days

On-chain data analysis platform Glassnode stated that ETF investors are withdrawing from Ethereum. The U.S. Ethereum spot ETF has recorded net outflows for 23 consecutive trading days, marking the longest continuous outflow record since the product's launch.

Glassnode indicated that this shows weak demand from traditional investors, as related funds had made significant purchases in August and September.