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BEARISH 📉 : Ethereum ETF holders experience significant losses at $2,000 price point
Ethereum ETF investors are facing significant losses compared to Bitcoin ETF investors. The average cost basis for Ethereum ETF holders is around $3,500, while the current ETH price is approximately $2,000, leading to a drawdown of over 60%.
- Despite the losses, many investors have remained invested, with net inflows in ETH ETFs dropping from $15 billion to below $12 billion.
- Recent data shows a slowdown in outflows, with US spot ether ETFs receiving about $13.82 million in net inflows after experiencing net redemptions of roughly $166 million the previous week.
- Overall, last month's net flow showed about $350 million in outflows, with total net assets at $11.76 billion as of February 10.
Goldman Sachs disclosed significant crypto-related positions in its latest 13F filing, holding approximately $1.06 billion in spot Bitcoin ETFs and $1.0 billion in spot Ether ETFs, alongside smaller allocations in XRP and Solana.
- This suggests an increasing interest from traditional finance in cryptocurrencies beyond Bitcoin, with Ethereum being a major focus.
- The allocation indicates that Goldman Sachs may be more bullish on Ethereum compared to Bitcoin, reflecting a shift in institutional investment strategies.
At the time of reporting, Ethereum traded at $1,949.
