Spot Ether exchange-traded funds (ETF) based in the US have experienced five consecutive days of net outflows as the asset’s price declined by approximately 10% over the week.
On Friday, spot Ether (ETH) ETFs concluded the trading week with $248.4 million in daily outflows, leading to total weekly outflows of $795.8 million, according to Farside data.
At the time of publication, Ether’s price had fallen by 10.25% over the past week, trading at $4,013, according to CoinMarketCap data.
The last time spot Ether ETFs noted five consecutive days of outflows was the week ending Sept. 5, when the asset’s price was around $4,300.
Staking anticipation lingers for spot Ether ETFs
Cointelegraph has reported that retail participation in ETH seems to be declining. Net taker volume on Binance has remained negative for the past month, indicating ongoing sell-side pressure.
Crypto analyst Bitbull stated the Ether ETF outflow trend “is a sign of capitulation as the panic selling has been so high.”
This comes as anticipation grows in the industry regarding when the US Securities and Exchange Commission will allow staking as part of spot Ether ETFs.
On Sept. 19, it was reported that Grayscale is preparing to stake some of its substantial Ether holdings, possibly indicating confidence that US regulators will soon allow staking in exchange-traded products.
Bitcoin ETFs are performing very well
In contrast, spot Bitcoin (BTC) ETFs recorded net outflows of $897.6 million over the same five-day period. Bitcoin’s price dropped 5.28% over the past week, trading at $109,551 at the time of publication.
ETF analyst James Seyffart mentioned in a podcast released on Thursday that Bitcoin ETFs haven’t “been perfectly hot the past couple of months,” but reaffirmed that “they are the biggest launch of all time.”
Related: Bitcoin’s ‘biggest bull catalyst’ may be the next Fed chair pick: Novogratz
Seyffart emphasized that Bitcoin ETFs are doing “as good as you could possibly hope.”
“The influx of capital here is unprecedented,” he noted.
Magazine:‘Help! My robot vac is stealing my Bitcoin’: When smart devices attack
