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US spot ETH ETFs see fifth straight day of net outflows
SoSoValue data show $205.88 million has left US spot ETH products since Sept. 29, taking cumulative net inflows to about $13.75 billion.
Ethereum spot market conditions weakened as US investors pulled capital from spot ETH exchange traded funds, even as ETH kept trading near the $2,700 area. CryptoSlate reports that US spot ETH ETFs recorded $50.76 million of net outflows on Oct. 5, extending a losing streak to five consecutive sessions, according to SoSoValue data.
The same data show the products have shed $205.88 million since Sept. 29, which reduced cumulative net inflows to about $13.75 billion. CryptoSlate also notes the streak followed a $17.1 million inflow on Sept. 28.
On chain signals pointed to shifting long term holder behavior around the same period. According to CryptoSlate, Santiment said Ethereum’s Age Consumed metric jumped to 580 million token-days on Sept. 30, about nine times its September weekday average and the highest since June 2, while aggregate exchange balances barely changed over Sept. 30 and Oct. 1.
Latest closeEthereum $2,704.90 ▼0.2%