🔴 Ether ETF (ETHH-B.TO) is trading 3.65% down as Ethereum weakens

ETHH-B.TO is trading at CA$11.36, down 3.65%, as Ethereum weakness weighs on the ETF amid crypto falling on rising yields and inflation concerns.

• The 10-year Treasury yield briefly reached 5.02%; Brent crude traded near $107, pressuring risk assets.
• Investors are repositioning ahead of the Federal Reserve meeting; a potential hike could hurt non-yielding assets such as Ethereum, which previously weakened as higher yields increased Fed-hike expectations.
• ETHH-B is Purpose’s Canadian-dollar, non-currency-hedged Ether ETF; its intraday move primarily reflects Ethereum and CAD effects.