The ETHER ETF records a $795.8 million spill over five days, as ETH prices fell 10.8% to $3,995. The decision to staking is approaching. Preparing grayscale to wager ETH Holdings amidst pressure. Bitcoin ETFs are facing a $897.6 million spill, but analysts call them “the biggest release of all time.”
The US-based Spot Ether Exchange-Traded Funds (ETF) recorded its second long-term outflow streak in less than a month, highlighting the attention of investors ongoing in the market.
The sale coincides with ether (ETH) prices slipping by more than 10% over the past week, reflecting broader concerns about crypto demand and regulatory uncertainty.
Ether ETF 5 straight spill
Data from Farside shows that Spot Ether ETF recorded net spills for five consecutive days this week, totaling $795.8 million.
On Friday alone, $248.4 million was withdrawn, closing the difficult week of products.
Ether prices have fallen 10.8% to $3,995.33 in the last seven days at the time of writing.
This is the first time that ether ETFs have recorded five-day spill streaks since the week that ended September 5th was traded at nearly $4,300.
Repeated pressures suggest that long-term developments regarding staking can reshape market sentiment, but short-term declines in investor desires.
Staking approvals can change market dynamics
Market participants continue to monitor signals from the Securities and Exchange Commission (SEC) regarding whether staking will ultimately be permitted within the Spot Ether ETF.
Staking, which allows investors to earn returns by locking ETH, can provide additional incentives to long-term holders and enhance the usefulness of these products.
On September 19th, it was reported that Grayscale was preparing to wager a portion of its important ether holdings. This is a move that is interpreted as a vote of confidence that regulators may soon allow them to dye products traded on exchanges.
Despite this potential catalyst, current trading data highlights persistent sell-side pressure.
Cointelegraph shows that Binance’s nettaker volume has remained negative for the past month, with retail participation in ether being cooled.
Crypto analyst Bitbull described the ETF spill streak as “a sign of surrender due to the high panic sales.”
Bitcoin ETF is also facing withdrawal
Sales trends were not limited to ether.
The Spot Bitcoin ETF also recorded a five-day spill, reaching $897.6 million over the same period.
Bitcoin prices have fallen 5.28% over the past week, trading at $109,551 at publication.
While recent spills reflect cooling momentum, analysts are broadly optimistic about the long-term trajectory of Bitcoin ETFs.
ETF analyst James Seyffart spoke on a podcast on Thursday, saying that Bitcoin ETF “isn’t completely hot for the past few months” but remains “the biggest release of all time.”
“The amount of money we’ve come here is different than what we’ve seen,” Seyfert said, adding that the Bitcoin ETF is performing “as good as you can hope for.”
