Citigroup: ETF fund flows may continue to be disappointing until the market gains clarity on the outcome of the U.S. economic landing

ChainCatcher message, Citibank stated in a research report on Friday that since the launch of spot Ethereum exchange-traded funds (ETFs) in the U.S. on July 23, the cryptocurrency market has been struggling.

The bank noted that during this period, other risk assets have also performed poorly, but after adjusting for volatility, cryptocurrencies have underperformed since the rebound in non-farm payroll (NFP) data. Citibank stated that unless the market gains more clarity on the "soft landing versus hard landing outcomes" for the U.S. economy, ETF liquidity may continue to be disappointing.