US Spot Ether ETFs See Net Outflows for 23 Straight Trading Days, Longest Streak Since Launch
Summary
- US spot Ether ETFs recorded net outflows for 23 straight trading days, the longest such streak since launch.
- Glassnode said the withdrawals reflect weakening demand for Ether investment among traditional-market investors.
- It said ETF inflows and outflows for spot Ether are used as a key indicator of institutional investment demand.
Forecast Trend Report by Period
US spot Ether exchange-traded funds have posted their longest streak of consecutive net outflows since launch.
Wu Blockchain, citing on-chain analytics firm Glassnode, said on Nov. 1 that US spot Ether ETFs recorded net outflows for 23 straight trading days. That marks the longest consecutive outflow streak since the products debuted.
Glassnode said the latest withdrawals reflect weakening demand for Ether exposure among investors in traditional financial markets. It also highlighted a shift in flows from investors who had actively accumulated Ether in August and September but have since turned into net outflows.
Spot Ether ETFs give institutional investors and other traditional financial-market participants a way to invest in Ether without directly holding the token. As a result, fund flows into and out of the ETFs are widely used as a key gauge of demand from regulated-market investors.
The latest streak of net outflows is seen as a sign that earlier buying interest in Ether is losing momentum. Glassnode did not, however, provide specific figures for cumulative net outflows during the period or for flows in individual ETF products.
