Ethereum ETFs have seen outflows for 6 straight days, and only now is the price falling
U.S. spot Ethereum ETFs have recorded net outflows for 6 consecutive trading days, totaling about $408 million. On Tuesday alone, $202 million flowed out, all from BlackRock’s ETHA. Every other fund saw zero flows. It was the biggest single-day outflow since September 16.
The contrast is in the price. From September 29, when the outflows began, through October 6, ETH barely moved: money was flowing out, but the price held up. It finally gave way on Wednesday: ETH is now at 2,571 on Binance spot, down 4.7% in 24 hours, after touching a low of 2,538. At the end of September, I wrote that I’d wait for 2,650 to hold before taking a small long position. The 2,630 level where I’d admit I was wrong broke this time, so I took the loss.
On the same day, Bitcoin ETFs actually saw net inflows of $119 million, with $122 million going into IBIT alone. This looks more like institutions shifting positions between the two than leaving altogether.
These 6 days of outflows have eaten up nearly half of the $850 million that flowed in over the previous 7 days. Until the outflows stop, a price drop isn’t necessarily a bargain.
I’ll hold off on buying Ethereum for now and wait to see the ETF outflows stop.
#比特币 $ETH
U.S. spot Ethereum ETFs have recorded net outflows for 6 consecutive trading days, totaling about $408 million. On Tuesday alone, $202 million flowed out, all from BlackRock’s ETHA. Every other fund saw zero flows. It was the biggest single-day outflow since September 16.
The contrast is in the price. From September 29, when the outflows began, through October 6, ETH barely moved: money was flowing out, but the price held up. It finally gave way on Wednesday: ETH is now at 2,571 on Binance spot, down 4.7% in 24 hours, after touching a low of 2,538. At the end of September, I wrote that I’d wait for 2,650 to hold before taking a small long position. The 2,630 level where I’d admit I was wrong broke this time, so I took the loss.
On the same day, Bitcoin ETFs actually saw net inflows of $119 million, with $122 million going into IBIT alone. This looks more like institutions shifting positions between the two than leaving altogether.
These 6 days of outflows have eaten up nearly half of the $850 million that flowed in over the previous 7 days. Until the outflows stop, a price drop isn’t necessarily a bargain.
I’ll hold off on buying Ethereum for now and wait to see the ETF outflows stop.
#比特币 $ETH