Spot Ether exchange-traded funds (ETFs) in the US have experienced five consecutive days of net outflows as the asset’s price dipped approximately 10% this week.
On Friday, spot Ether (ETH) ETFs ended the trading week with $248.4 million in daily outflows, totaling weekly outflows of $795.8 million, according to Farside data.
Meanwhile, Ether’s price dropped by 10.25% over the last seven days, trading at $4,013 at the time of publication, according to CoinMarketCap data.
The last occurrence of five consecutive outflow days for spot Ether ETFs was during the week ending Sept. 5, when the asset’s price hovered around $4,300.
Staking expectations linger for spot Ether ETFs
Crypto analyst Bitbull noted that the Ether ETF outflow trend “indicates capitulation due to heightened panic selling.”
Cointelegraph recently shared that retail engagement with ETH appears to be declining. Net taker volume on Binance has remained negative over the past month, reflecting ongoing sell-side pressure.
As this unfolds, anticipation grows around when the US Securities and Exchange Commission will approve staking for spot Ether ETFs.
On Sept. 19, reports emerged that Grayscale is preparing to stake part of its considerable Ether holdings, potentially indicating confidence that US regulators will soon allow staking in exchange-traded products.
Bitcoin ETFs performing “as well as you could wish”
In contrast, spot Bitcoin (BTC) ETFs recorded net outflows of $897.6 million during the same five-day period. This coincides with a 5.28% decline in Bitcoin’s price over the past week, trading at $109,551 at publication time.
ETF analyst James Seyffart stated in a recent podcast that while Bitcoin ETFs haven’t been “extremely popular the last few months,” they remain “the largest launch ever.”
Related: Bitcoin’s ‘greatest bull catalyst’ could be the next Fed chair selection: Novogratz
Seyffart remarked that Bitcoin ETFs are performing “as well as you could possibly hope.”
“The influx of funds has been unprecedented,” he expressed.
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