Ethereum ETFs: nine sessions of outflows.
Ahead of Wednesday’s CPI, crypto ETFs continue to see money flow out
Bitcoin is trading around 83,000 $ and Ethereum around 2,500 $ at the start of the week.
The flows
→ Spot Bitcoin ETFs: +21.1 M$ on Friday, but about -679 M$ over five sessions
→ Spot Ethereum ETFs: -56.1 M$ on Friday, marking a ninth consecutive session of outflows, about 697 M$ in total
→ Net inflows since the launch of Ethereum ETFs: still about $13.3 billion
The macro backdrop
→ Wednesday, October 14: U.S. September CPI, with annual inflation expected to be near 3.7%
→ The Fed raised rates in September for the first time since 2023. This CPI is the last one before its October 28 meeting
→ Thursday: producer prices and retail sales
→ Friday, October 16: options expiry, about 1.25 Md$ on Bitcoin and 247.5 M$ on Ether (Deribit; figures subject to change)
My analysis: ETF flows track rate expectations. A hotter-than-expected CPI could extend the outflows, while a softer CPI could slow them. This is a hypothesis, not a forecast.
This is not investment advice.
Do you think CPI will bring ETF inflows back, or lead to even more outflows? #EtherETFsExtendOutflowsToNineDays
Ahead of Wednesday’s CPI, crypto ETFs continue to see money flow out
Bitcoin is trading around 83,000 $ and Ethereum around 2,500 $ at the start of the week.
The flows
→ Spot Bitcoin ETFs: +21.1 M$ on Friday, but about -679 M$ over five sessions
→ Spot Ethereum ETFs: -56.1 M$ on Friday, marking a ninth consecutive session of outflows, about 697 M$ in total
→ Net inflows since the launch of Ethereum ETFs: still about $13.3 billion
The macro backdrop
→ Wednesday, October 14: U.S. September CPI, with annual inflation expected to be near 3.7%
→ The Fed raised rates in September for the first time since 2023. This CPI is the last one before its October 28 meeting
→ Thursday: producer prices and retail sales
→ Friday, October 16: options expiry, about 1.25 Md$ on Bitcoin and 247.5 M$ on Ether (Deribit; figures subject to change)
My analysis: ETF flows track rate expectations. A hotter-than-expected CPI could extend the outflows, while a softer CPI could slow them. This is a hypothesis, not a forecast.
This is not investment advice.
Do you think CPI will bring ETF inflows back, or lead to even more outflows? #EtherETFsExtendOutflowsToNineDays