Ethereum ETP saw a net outflow of approximately $63.5 million last week

According to news on May 16, according to Bloomberg data cited by ETC Group in its weekly report, global Ethereum ETP net outflows last week were approximately US$63.5 million, with Hong Kong-listed ETFs suffering the largest losses. Meanwhile, Bitcoin ETPs saw net inflows of $92.5 million last week. Several factors may be responsible for Ethereum losing favor with investors, including intense L1 competition and uncertainty over the approval of a U.S. Ethereum spot ETF.