US-based spot Ether exchange-traded funds (ETFs) have experienced four consecutive days of net outflows during a shortened trading week influenced by the US Labor Day holiday.
This decline follows a robust August, where spot Ether ETFs attracted $3.87 billion in net inflows. In contrast, Bitcoin ETFs faced $751 million in outflows during the same month, according to data from Farside.
On Friday alone, Ether ETFs recorded outflows totaling $446.8 million, contributing to a total net outflow of $787.6 million over the four-day span. Meanwhile, Bitcoin ETFs posted $250.3 million in net inflows during this period.
Expectations for ETH ETF Inflow Recovery
Market participants and crypto traders express optimism about a potential resurgence of inflows into Ether ETFs. Crypto trader Ted highlighted this sentiment, stating he anticipates inflows to return if Ethereum’s price momentum persists.
Ether’s price has slightly decreased over the past week, down 2.92%, currently trading around $4,301, according to CoinMarketCap data.
The overall crypto market sentiment remains mixed, with the Crypto Fear & Greed Index showing ‘Neutral’ levels for the last two days.
Optimistic Long-Term Outlook for Ether
Despite recent outflows, confidence in Ethereum’s potential remains strong. Tom Lee, chairman of BitMine, reiterated his bullish forecast that ETH could reach $60,000 over time. Lee compared the growing Wall Street interest in Ethereum to a historic “1971 moment” that might drive prices upward.
BitMine holds the largest Ether treasury, approximately $8.04 billion worth of ETH. Data from StrategicETHReserve indicates Ether treasury companies collectively hold nearly 3% of the total ETH supply, valued at $15.49 billion.
Moreover, Ether whales, holders of 1,000 to 100,000 ETH, have increased their accumulations by 14% over the last five months, as reported by the crypto sentiment platform Santiment.
