BlackRock Clients Flee Ethereum ETF Amid Fed Rate Hike

BlackRock's iShares Ethereum ETF saw significant client redemptions in recent times. According to CryptoBriefing, approximately $110 million worth of the fund was sold by its clients. This figure is part of a broader trend of outflows from Ethereum-linked investment funds across the market.

The total outflows from Ethereum exchange-traded funds reached $224 million, as reported by The Cryptonomist. This comes after a recent interest rate hike by the Federal Reserve, which can prompt institutional investors to reassess their exposure to riskier assets like crypto.

Despite these outflows, Ethereum's spot price rose 1.54% over the same period, highlighting the divergence between fund flows and price action in crypto markets.