Ether ETFs log straight week of outflows, $796M pulled as price drops 10%
US-based spot Ether ETFs have experienced five consecutive days of net outflows, amounting to nearly $796 million, coinciding with a significant 10% decline in Ethereum's price over the past week. By Friday, the total daily outflows reached $248.4 million, contributing to a weekly drop in Ether's price to approximately $4,013. This situation reflects dwindling retail participation, as evidenced by negative net taker volume on Binance. Experts suggest that the continuous outflows may indicate capitulation among investors. Meanwhile, speculations around staking opportunities for Ether ETFs persist, following reports of a significant investor preparing to stake Ether holdings, potentially signaling regulatory changes. In contrast, spot Bitcoin ETFs also faced substantial outflows, totaling $897.6 million, as Bitcoin's price fell 5.28% during the same period, trading at $109,551. Although Bitcoin ETFs have faced challenges, analysts affirm that their performance remains unprecedented in the market's history.
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