US exchange trade funds related to Ether (ETH) have seen net outflows of $401 million in March so far, wiping away profits from the first two months of the year.
According to Sosovalue data, redemption accounts for nearly 6% of the total $6.777 billion in assets held by Spot Ether ETFs. On the first day of this month (March 4th), we ruled out a positive influx, which added $158 million. In comparison, in January and February saw an inflow of $101 million and $60 million, respectively.
The Spot Bitcoin ETF also faced withdrawals, with a net outflow of $893 million this month, but the size associated with managed assets (approximately 0.9% of $943.5 billion) was less severe. Bitcoin funds remained purely positive for the year after a strong inflow of $5.25 billion in January.
The contrast reflects recent market performance. Since March 1st, ether has dropped by around 8.5%, while Bitcoin has won over 3%. Ether from the start of the year plunged more than 37% to around $2,080. Bitcoin has also been downgraded, but it fell 7.5% to around $87,300. The broader Coindesk 20 index fell 21% over the same period.
Despite the recession, Ether ETF has held a net inflow of $2.42 billion since its launch. However, it is warped by $360.5 billion drawn by Bitcoin counterparts, highlighting the gap in investor desires between the two assets.
