Crypto
Ethereum ETFs Reverse Course with $117.8 Million in Net Outflows
US spot Ethereum ETFs saw net outflows of $117.8 million from September 29 to October 1, ending a seven-day streak that brought in $850.6 million.
The funds had been buying Ethereum aggressively since July, with holdings rising by about 23% to 24%, according to CryptoQuant contributor MorenoDV_.
However, the recent outflows equal about one-seventh of the prior streak's inflows and have weakened the support for Ethereum's price, which went flat at around $2,700 as the selling hit.
Fidelity's Ethereum fund accounted for about half of the outflows, with Grayscale's two funds making up most of the rest. BlackRock's ETHA recorded no flows on Wednesday or Thursday.