The crypto markets enjoyed some recovery lately but Ethereum ETFs only registered 1 day of positive flows in the last 3 days.
This result has been disseminating the narrative that the cryptocurrency has been underperforming.
Ethereum ETFs only registered $38.8 million worth of inflows on 22 April despite market wide recovery observed this week.
While the positive flows were a welcome relief, roughly $23.9 million worth of liquidity exited Ethereum ETFs the following day.
The outcome extended the negative flows observed in the last 2 weeks.
ETH exchange flows/ source: Farside
On the contrary, the recent wave of bullish excitement in the market saw strong institutional flows into Bitcoin.
For context, Bitcoin ETFs had over $2.2 billion worth of inflows from Monday to Wednesday, confirming robust institutional demand.
Meanwhile, Ethereum ETFs had a net $-10.5 million worth of net flows during the same three-day period.
This performance highlights weak institutional dem
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