US spot Ether exchange-traded funds (ETFs) recorded four straight days of net outflows during the shortened trading week following the Labor Day holiday.
The pullback comes on the heels of a strong August, when spot Ether ETFs attracted $3.87 billion in net inflows, even as Bitcoin ETFs logged $751 million in outflows, data from Farside shows.
On Friday alone, Ether ETFs saw $446.8 million exit, pushing total net outflows for the week to $787.6 million. In contrast, Bitcoin ETFs posted $250.3 million in net inflows over the same period.
Traders look for ETH inflow recovery
Market participants remain optimistic about a rebound. Crypto trader Ted noted, “I’m expecting inflows to return if Ethereum continues this pump.”
Ether has slipped 2.92% over the past week, trading at $4,301 at the time of writing, according to CoinMarketCap.
Market sentiment has been mixed, with the Crypto Fear & Greed Index showing a “Neutral” reading for the past two days.
Bullish outlook persists
Despite recent outflows, long-term optimism around Ether remains strong.
On Wednesday, BitMine chairman Tom Lee reiterated on the Medici Presents: Level Up podcast that ETH could eventually reach $60,000. He suggested Wall Street’s growing interest in the asset could serve as a pivotal “1971 moment” for Ethereum.
BitMine, the largest Ether treasury holder, currently owns around $8.04 billion worth of ETH, according to StrategicETHReserve. Collectively, Ether treasury companies now control 2.97% of the circulating supply, valued at $15.49 billion.
Meanwhile, whale activity has also picked up. Analytics platform Santiment reported Wednesday that wallets holding between 1,000 and 100,000 ETH—worth $4.31 million to $430.63 million—have increased their holdings by 14% since April, when Ether hit yearly lows.
