The five straight days of spot Ether ETF outflows come amid recent data suggesting weakening retail participation in the asset.
News
US-based spot Ether exchange-traded funds (ETF) have posted five straight net outflow days as the asset’s price slid around 10% over the week.
On Friday, spot Ether () ETFs closed the trading week with $248.4 million in daily outflows, bringing total weekly outflows to $795.8 million, to Farside data.
Meanwhile, the price of Ether fell 10.25% over the past seven days, trading at $4,013 at the time of publication, to CoinMarketCap data.
The last time spot Ether ETFs recorded five consecutive days of outflows was the week ending Sept. 5, when the asset’s price was trading around $4,300.
Staking anticipation lingers for spot Ether ETFs
Crypto analyst Bitbull the Ether ETF outflow streak “is a sign of capitulation as the panic selling has been so high.”
Cointelegraph recently reported that retail participation . Net taker volume on Binance has negative over the past month, signaling persistent sell-side pressure.
It comes as industry when the US Securities and Exchange Commission will approve staking as part of the spot Ether ETFs.
On Sept. 19, it was reported to stake part of its significant Ether holdings, which may signal confidence that US regulators will soon permit staking within exchange-traded products.
Bitcoin ETFs are going “as good as you could possibly hope”
Meanwhile, spot Bitcoin () ETFs posted net outflows of $897.6 million over the same five days. It comes as Bitcoin’s fell 5.28% over the past seven days, trading at $109,551 at the time of publication.
ETF analyst James Seyffart in a podcast published on Thursday that Bitcoin ETFs haven’t “been perfectly hot the past couple of months,” but reiterated “they are the biggest launch of all time.”
Related:
Seyffart added that Bitcoin ETFs are going “as good as you could possibly hope.”
“The amount of money that has come in here is unlike anything we have ever seen,” he said.
Magazine:
