On September 8, ETH spot ETF total holdings fell to 6,299,693.18 ETH, with net sales of 16,261.09 ETH on the day. This is a fairly clear single-day outflow. And unlike BTC, that day ETH didn’t see inflow slow down—instead, it directly turned into a weak day.
However, if you look at a longer period, ETH still hasn’t fully turned bearish from its strong state. Over the past seven days, it has still recorded a net increase of 128,313.07 ETH; since September, the net increase is 43,751.37 ETH; and since 2026 began, the net increase is 184,225.61 ETH. So right now it looks more like a noticeable pullback after a stretch of strong inflows, rather than the entire trend reversing.
Therefore, I interpret ETH’s current status as still relatively strong in the medium term, while short-term capital strength is starting to cool off. If over the next one or two days it can return to net inflows, then this would look more like a normal pullback; but if core products like Fidelity continue to post consecutive outflows, then ETH’s ETF funding advantage in this round will start to be eroded.$ETH #ETH走势分析
However, if you look at a longer period, ETH still hasn’t fully turned bearish from its strong state. Over the past seven days, it has still recorded a net increase of 128,313.07 ETH; since September, the net increase is 43,751.37 ETH; and since 2026 began, the net increase is 184,225.61 ETH. So right now it looks more like a noticeable pullback after a stretch of strong inflows, rather than the entire trend reversing.
Therefore, I interpret ETH’s current status as still relatively strong in the medium term, while short-term capital strength is starting to cool off. If over the next one or two days it can return to net inflows, then this would look more like a normal pullback; but if core products like Fidelity continue to post consecutive outflows, then ETH’s ETF funding advantage in this round will start to be eroded.$ETH #ETH走势分析
