Ether ETF Outflows Surge Amid Altcoin Rally

U.S.-based Ether (ETH) exchange-traded funds (ETFs) experienced significant outflows in early October, totaling $55.37 million on Oct. 1.

The net outflows over a three-day period from Sept. 29 to Oct. 1 reached approximately $118 million, indicating a decline in investor interest towards the end of September.

Despite these outflows, an Altcoin Season Index reading of 66 on Sept. 30 suggests that alternative cryptocurrencies are still performing well compared to Bitcoin (BTC) over a 90-day period.

The index tracked 50 altcoins, with 33 of them outperforming BTC in this timeframe.