Fidelity Ether ETF Hit by Outflows Amid ETH Price Surge

Fidelity's Ethereum Fund ETF (FETH) experienced outflows of $24.26 million on August 31, marking one of its more notable single-day pullbacks.

The withdrawal accounted for about 1.83% of the fund's latest assets under management, which stand at roughly $1.33 billion.

The related asset ETH-USD is currently trading at $2,373.66, having surged about 36.14% over the past three months as investors bet on Ethereum's expanding DeFi and staking ecosystem.

Despite the ETF outflows, the token's short-term technical setup remains constructive, with a 1-day signal flashing Buy, suggesting traders still see upside.