Ether ETFs End 19-Day Inflow Streak With $2.1 Million Outflow

US-based spot Ether exchange-traded funds (ETFs) have experienced a notable shift in investor sentiment, marking the end of a 19-day streak of continuous inflows. This period saw a significant influx of capital, with Ether ETFs capturing nearly $1.4 billion. The streak began on May 16, excluding the market closure on May 26 for US Memorial Day. The ETFs accumulated a total of $1.37 billion in inflows over the 19-day streak, representing roughly 35% of the products’ total $3.87 billion net inflows. On June 11, spot Ether ETFs saw its largest daily inflow in more than four months, totaling $240.3 million.

However, on June 13, spot Ether ETFs recorded net outflows of $2.1 million, ending the longest inflow streak since the products’ launch in July 2024. This shift suggests a potential cooling off in investor enthusiasm, although it remains to be seen whether this is a temporary setback or the beginning of a broader market correction. The outflows were relatively modest, with Ether ETFs losing $3.6 million after enjoying two brief days of inflows. This development indicates a broader market retracement affecting key cryptocurrency-linked investment vehicles.

Despite a record streak of consecutive inflow days, Ether is trading lower than it was at the start of the stretch on May 16, when it was trading at $2,620. At the time of publication, Ether is trading at $2,552. Many industry participants believe spot Ether ETFs require a staking feature to attract greater interest. On March 20, BlackRock’s head of digital assets, Robbie Mitchnick, said that the ETF is “less perfect” without staking.

Meanwhile, there is a “high level of optimism toward Ethereum.” More and more eyes have turned to Ethereum, and the asset has been “playing catch-up since markets began their recovery in mid-April.” However, historically, Q3 has delivered the lowest average returns for Ether, averaging just 0.88% since 2013. On June 13, sports betting platform SharpLink Gaming acquired 176,271 Ether for $463 million, becoming the world’s largest publicly traded holder of ETH.