Citi: Until the market sees through to the outcome of the U.S. economic landing, ETF fund flows may continue to disappoint
In a research report on Friday, Citibank stated that since the launch of the spot Ethereum exchange-traded fund (ETF) trading in the United States on July 23, the cryptocurrency market has been struggling.
The bank pointed out that during this period, other risk assets also performed weakly. However, after adjusting for volatility, cryptocurrencies have underperformed since the rebound of non-farm payroll data (NFP). Citibank said that unless there is more transparency about the outcome of a "soft landing versus hard landing" for the US economy, ETF flows may continue to disappoint.
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