US Spot Ether ETFs Register Four Days of Net Outflows
US-listed spot Ether exchange-traded funds (ETFs) experienced four consecutive days of net outflows during the shortened trading week due to the Labor Day holiday. This downturn follows a strong performance in August where Ether ETFs attracted significant capital, while competing Bitcoin ETFs saw withdrawals.
Shifting Flows Amid Mixed Sentiment
Data from Farside highlights that spot Ether ETFs recorded $3.87 billion in net inflows throughout August. In contrast, spot Bitcoin ETFs posted $751 million in outflows for the month. However, the trend reversed in the first week of September, as Ether ETFs saw net outflows totaling $787.6 million across four days. Friday alone accounted for $446.8 million in withdrawals. Over the same period, spot Bitcoin ETFs welcomed $250.3 million in net inflows.
Crypto market observers have suggested inflows could recover if Ethereum�s price rebounds. Some traders anticipate renewed interest if Ether�s recent price momentum returns. Ether�s price declined slightly during the week, falling 2.92% to trade at $4,301 according to CoinMarketCap.
Market Signals and Treasuries
General crypto sentiment remains mixed. The Crypto Fear & Greed Index has shown 'Neutral' readings over the past two days, reflecting investor uncertainty.
Despite recent Ether ETF outflows, industry advocates maintain a positive long-term outlook. On Wednesday, crypto executive BitMine reiterated his view that Ether could eventually reach $60,000, citing growing institutional interest. BitMine manages the largest Ether corporate treasury, reportedly holding $8.04 billion in ETH based on StrategicETHReserve data. Collectively, Ether treasury companies hold 2.97% of the asset�s total supply, valued at $15.49 billion at the time of publishing.
Whale Activity on the Rise
Blockchain analytics platform Santiment reported increased accumulation by large Ether holders. Since Ether reached new lows in April, whales�defined as wallets holding between 1,000 and 100,000 ETH�have grown their holdings by 14%. That range equates to holdings worth from $4.31 million to $430.63 million per wallet.
The recent withdrawal trend in spot Ether ETFs contrasts with growing optimism from both institutional and large individual holders. Market participants are watching for signs of renewed inflows as Ether�s price and broader sentiment evolve.
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