The US-based Spot Ether Exchange-Traded Funds (ETFs) recorded a 5-straight net spill date as the asset prices slipped around 10% in a week.
On Friday, Spot Ether (ETH) ETF closed its trading week with a daily spill of $248.4 million, bringing its weekly total to $795.8 million.
Meanwhile, ether prices have fallen 10.25% over the past seven days, trading at $4,013 at the time of publication, according to data from CoinmarketCap.
Ether prices have fallen 12.24% over the past 30 days. sauce: coinmarketcap
The last time Spot Ether ETFs were recorded for five consecutive days was the week ending September 5th, when the asset prices were trading at around $4,300.
Spot ether ETFs have a strong prediction
Cointelegraph recently reported that retail participation appears to be in decline due to ETH. The net taker volume of vinance has remained negative for the past month, indicating sustained sell-side pressure.
Crypto analyst Bitbull said the Ether ETF spill streak was “a sign of surrender due to the high sales of panic.”
This is because industry expectations are rising when the Securities and Exchange Commission approves staking as part of its spot ether ETF.
On September 19th, it was reported that Grayscale was preparing to wager a portion of its important ether holdings. This could indicate confidence that US regulators will soon allow piles within products traded on exchanges.
Bitcoin ETF is on the way “as good as you can hope”
Meanwhile, the Spot Bitcoin (BTC) ETF posted a net flow of $897.6 million over the same five days. This is because Bitcoin has fallen 5.28% in the last seven days, trading at $109,551 at publication.
ETF analyst James Seyffart said in a podcast released Thursday that Bitcoin ETF “hasn’t been completely hot in the past few months,” but reiterated it as “the biggest release of all time.”
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Seyffart added that Bitcoin ETFs are saying “as good as you can hope for”.
“The amount of money we’ve come here is different than what we’ve seen,” he said.
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