Spot Ethereum ETF investors sit on 21% losses, Glassnode says

Investors in BlackRock and Fidelity’s spot Ethereum (ETH) ETFs are currently facing average unrealized losses of around 21%, according to a Glassnode report cited by Cointelegraph. The cost basis for BlackRock’s ETHA is $3,300, while Fidelity’s FETH sits at $3,500. Glassnode noted that in the past, net ETF outflows have tended to accelerate when the ETH price falls below these cost levels. The report suggested these ETFs have had minimal impact on ETH’s spot price.