Spot Ether ETFs Experience Outflows After Significant Inflows

According to Cointelegraph, spot Ether exchange-traded funds (ETFs) concluded the week with notable outflows, ending a streak of substantial inflows that lasted nearly two weeks. On Friday, U.S.-spot Ether (ETH) ETFs recorded $59.3 million in outflows, marking the conclusion of an eight-day inflow period that had accumulated approximately $3.7 billion, as reported by Farside data. This development coincides with Ether's recent price movements, where it fell just 1.94% short of reaching its 2021 all-time high of $4,878 on Thursday, before retreating to $4,448 at the time of publication, according to CoinMarketCap. The cessation of the inflow streak serves as a significant indicator for Ether traders, who are likely to monitor ETF flows closely in the coming weeks. These flows, along with potential developments in Ether treasury firm acquisitions, will play a crucial role in determining whether Ether can reclaim its 2021 all-time highs. Since their inception in July 2024, spot Ether ETFs have experienced $12.68 billion in total net flows, as noted by Farside. Analysts emphasize the importance of sustained ETF inflows for Ether to achieve its all-time highs once again. Nansen analyst Jake Kennis remarked that the rally would persist as long as the flows and narrative remain robust. Crypto trader Langerius suggested that Ether could reach a price of $10,000 if consistent weekly inflows continue. Meanwhile, crypto trader Merlijin The Trader observed on Thursday that ETF inflows have surged dramatically, describing it as institutional FOMO. Ether has seen a 29.63% increase over the past 30 days, according to CoinMarketCap. However, sentiment platform Santiment noted that crypto traders are not expressing as much bullishness for Ether on social media compared to Bitcoin. Historically, this could indicate that Ether may slightly outperform Bitcoin in the short term. Cointelegraph also reported that Ethereum's staking ecosystem has reached new heights, with 877,106 Ether valued at $3.88 billion currently queued for withdrawal. While this increase in queued unstaked ETH might suggest significant profit-taking, DeFi analyst Ignas pointed out that the recent accumulation and buying strength from Ether treasury companies and spot Ether ETFs are mitigating much of the selling pressure. This dynamic highlights the ongoing interest and investment in Ether, despite fluctuations in ETF flows and market sentiment.