Odaily News According to Bloomberg data cited by ETC Group in its weekly report, global Ethereum ETPs saw a net outflow of approximately $63.5 million last week, with Hong Kong-listed ETFs suffering the largest losses. Meanwhile, Bitcoin ETPs saw a net inflow of $92.5 million last week. There may be several factors behind Ethereum's loss of favor among investors, including fierce competition from L1 and uncertainty over the approval of Ethereum spot ETFs in the United States. "The approval of Bitcoin spot ETFs in the United States reinforces Bitcoin's narrative of value storage and its status as a macro asset," said David Han, a research analyst at Coinbase Institutional, in a report on Wednesday. "On the other hand, there are still unresolved questions about Ethereum's fundamental positioning in the crypto space. Competitors like Solana undermine Ethereum's positioning as the 'preferred' network for DApp deployment." (CoinDesk)