Spot Ether ETFs Experience $952 Million in Outflows Over Five Days
Spot ether exchange-traded funds (ETFs) experienced significant outflows, totaling $952 million over five days and $787 million in just four days this week. This follows a record-breaking August where these funds attracted $3.87 billion.
Key points include:
- Friday saw the largest withdrawal of $446.71 million from ETH-linked funds.
- In contrast, spot bitcoin ETFs gained $246.4 million in net inflows this week.
- Ether’s price increased by over 16% in the past month but fell by 1.8% last week, now trading below $4,300.
- The passing of the GENIUS Act may boost institutional investment in crypto.
- Market expectations are leaning towards an 89% probability of a 25 basis point rate cut by the Federal Reserve.
- Economic uncertainty has also driven gold prices above $3,600.