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Ethereum ETFs Snap 7-Day Inflow Streak as Bitcoin Funds Keep Buying

Source Beincrypto

US spot Ethereum (ETH) exchange-traded funds (ETFs) recorded $2.81 million in net outflows on September 29. The move ended a 7-day inflow streak that had brought roughly $850.8 million into the products.

Bitcoin (BTC) ETFs moved in the opposite direction on the same day. They took in $66.19 million, extending their own inflow run to 9 straight sessions.

How the Ethereum ETF Streak Lost Steam Before It Broke

The streak began on September 18, according to SoSoValue data. It followed 3 sessions of outflows between September 15 and 17, which pulled about $404.8 million from the funds.

BeInCrypto reported that those outflows coincided with the Clarity Act stalling in the Senate. The largest day of the run came on September 21, when the funds drew $269.98 million.

Daily totals then eased across most of the following sessions and slipped to $17.1 million by September 28.

Ethereum ETF inflow streak ends with outflow. Source SoSoValue

Weekly figures show how strong the run was at its height. The funds added $689.88 million in the week ending September 25, their biggest week since late August.

On September 29, BlackRock’s ETHA recorded the largest outflow at $8.94 million. Meanwhile, Grayscale’s Ethereum Mini Trust took in $12.83 million, which kept the net loss small.

Ethereum Price Slipped While the Money Kept Coming In

Ethereum’s price fell during the same week the funds were attracting capital. ETH traded at $2,673.54 at press time, down 3.32% over 7 days, according to BeInCrypto Markets data. The token gained 0.41% over the past 24 hours.

Ethereum (ETH) Price Performance. BeInCrypto Markets

Bitcoin showed the same split between price and flows. BTC dropped 3.78% over the week to $83,359, although its ETFs gathered roughly $3.08 billion during their 9-session streak.

Ethereum ETFs still hold $17.79 billion in net assets, equal to 5.45% of Ethereum’s market capitalization. They have also attracted $979.69 million in net inflows over the past 30 days.

The funds have opened this week with $14.29 million in net inflows, a fraction of the previous week’s pace. Flow data from the coming sessions will show whether ETHA’s exit stays isolated or spreads to other issuers.

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Disclaimer: For information purposes only. Past performance is not indicative of future results.

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