Ether trades below its price at the start of a record 19-day inflow streak, which just ended with the first net outflow for U.S. spot Ether ETFs.
The first net outflow day has been recorded by spot Ether exchange-traded funds (ETFs) domiciled in the United States, following a record 19-day streak of consecutive inflows.
According to Farside data, the longest inflow streak since the products’ introduction in July 2024 was finally broken on June 13, when spot Ether ETFs recorded net outflows of $2.1 million.
Streak Surpasses Previous Record By One Day
The sequence commenced on May 16, except for the market closure on May 26 in observance of US Memorial Day.
The ETFs accumulated $1.37 billion in inflows over the 19-day stretch, accounting for approximately 35% of the products’ total $3.87 billion net inflows.
The spot Ether ETFs experienced their highest daily inflow in over four months on June 11, totaling $240.3 million.
Before this, the most incredible inflow streak for spot Ether ETFs was 18 days, which concluded on December 19 as a result of the broader crypto market optimism that followed the election of US President Donald Trump in November.
In a post on X on June 13, crypto analyst ZeroHedge stated that Ether is trading at a lower price than at the beginning of the stretch on May 16, when it was trading at $2,620, despite a record sequence of consecutive inflow days.
According to CoinMarketCap data, Ether is trading at $2,552 at publication.
Many industry participants think spot Ether ETFs necessitate a staking feature to generate more interest.
According to Robbie Mitchnick, BlackRock’s director of digital assets, the ETF is “less perfect” without staking on March 20.
Ether ETFs Is Experiencing Increase In Optimism
In the meantime, Brian Quinlivan, an analyst at Santiment, recently stated to Cointelegraph that there is a “high level of optimism” regarding Ethereum.
On June 11, he stated that Ethereum has been “playing catch-up” since the markets began recovering in mid-April and that more and more eyes have shifted to the asset.
Nevertheless, CoinGlass data indicates that historical average returns for Ether have been the lowest in Q3, with an average of 0.88% since 2013.
SharpLink Gaming, a sports wagering platform, became the world’s largest publicly traded holder of ETH on June 13 after acquiring 176,271 Ether for $463 million.
