Ethereum Funds Reverse Course with $70M Outflow, End Five-Day Streak

US-listed spot Ethereum exchange-traded funds (ETFs) had a reversal last Friday, logging $70.62 million in net outflows and ending their five-day inflow streak.

This followed a week of significant inflows for these funds, which saw $211.25 million in net inflows from July 17 to Thursday, according to SoSoValue data.

Despite the outflows on Friday, Ethereum ETFs still posted $103.9 million in net inflows for the week ended that day and have attracted $337.74 million in net inflows so far this month of July.

The extension of their weekly inflow streak to three consecutive weeks is a notable trend in the market, which closely watches spot crypto ETF flows as an indicator of demand for Bitcoin (BTC) and Ether (ETH) through traditional investment products.