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Ethereum ETFs Shed $184M Over 4-Day Negative Streak
TL;DR
Ethereum ETFs experienced $184 million in outflows over four days, with a significant $87.7 million on April 29. Despite this, Ethereum's price rose 2.2% to $2,313.
Key points
- Ethereum ETFs had $184 million in outflows over four days.
- April 29 saw the largest single-day exit of $87.7 million.
- Ethereum's price increased by 2.2% to $2,313 despite ETF outflows.
In brief
- Ethereum ETFs posted $184 million in outflows over four straight days through April 30.
- Bitcoin ETFs also shed $476 million over the same period, but saw a $14.76 million inflow Thursday.
- Myriad users see a 55% chance Ethereum hits $3,000 next, up from 46% on Monday.
Ethereum exchange-traded funds extended their losing streak to four days on Thursday, shedding nearly $184 million as geopolitical uncertainty offset record highs in U.S. stocks.
The outflows accelerated on April 29, when Ethereum ETFs posted $87.7 million in net redemptions, the largest single-day exit since March 26, according to SoSoValue data. Cumulative flows for Ethereum ETFs now stand at $11.9 billion, down from a peak of $12.9 billion in mid-January.
Despite the outflows, Ethereum's price climbed 2.2% over the same period, trading at $2,313 on Thursday, per CoinGecko data. The divergence suggests selling pressure on the fund product has not translated directly to spot market weakness.
On prediction market Myriad, owned by Decrypt's parent company Dastan, users see a 55% chance that Ethereum's next major move reaches $3,000, up from 46% on April 30.
Why ETF outflows matter now
The four-day negative streak for Ethereum ETFs coincides with broader weakness in crypto investment products. Bitcoin ETFs shed $476 million over the same four-day period ending April 30, with outflows peaking at $263 million on April 27. Cumulative net inflows for Bitcoin ETFs now stand at $58.1 billion.
The outflows arrived as traditional markets marched higher with the S&P 500 hitting a fresh all-time high of 7,271, fueled by a rally in technology earnings.
Q&A
What caused the $184 million outflow from Ethereum ETFs?
The outflows were attributed to geopolitical uncertainty impacting investor sentiment, despite record highs in U.S. stocks.
How do Ethereum ETF outflows compare to Bitcoin ETFs during the same period?
Bitcoin ETFs saw $476 million in outflows, but they also had a $14.76 million inflow on Thursday, contrasting with Ethereum's continued losses.
What is the current price prediction for Ethereum based on user sentiment?
Users currently see a 55% chance that Ethereum will reach $3,000, an increase from 46% earlier in the week.
