Ethereum ETFs Experience $2.81M Outflow, Ending 7-Day Inflow Streak

On September 29, US spot Ethereum (ETH) exchange-traded funds (ETFs) recorded net outflows of $2.81 million, marking the end of a seven-day inflow streak that had brought in roughly $850.8 million. This downturn followed a period of significant capital inflow that began on September 18, according to data from SoSoValue.

The Ethereum inflow streak was notable, especially after experiencing three days of outflows from September 15 to 17, which resulted in a loss of around $404.8 million. The peak of the inflow occurred on September 21, when the funds attracted $269.98 million. However, daily inflows began to decline, dropping to $17.1 million by September 28.

In contrast, Bitcoin (BTC) ETFs experienced a robust inflow, bringing in $66.19 million on the same day, extending their own streak to nine consecutive sessions. This surge in Bitcoin ETF investments has been attributed to a renewed institutional interest, with total inflows reaching approximately $3.08 billion during this period.

Despite the inflow streak for Ethereum ending, the funds still hold $17.79 billion in net assets, which represents 5.45% of Ethereum’s market capitalization. Over the past 30 days, Ethereum ETFs have attracted $979.69 million in net inflows.

The recent performance of Ethereum's price reflects the mixed sentiment in the market, as ETH traded at $2,673.54, down 3.32% over the week. Bitcoin also saw a decline of 3.78% during the same period, trading around $83,359.

As the market continues to evolve, it remains to be seen if the outflows from Ethereum ETFs will persist or if they will recover in the coming sessions.