Spot Ethereum ETFs saw $79 million in outflows, the largest since July
Is it really that bad, or will we see the $3k mark after all?
What's in store for Ethereum read more
U.S. spot Ethereum ETFs experienced significant net outflows of $79.21 million on Monday, marking the largest daily outflow since July
The sharp decline was primarily driven by the Grayscale Ethereum Trust (ETHE), which alone accounted for $80.55 million in withdrawals.
This marked the fundâs largest outflow since July 31, as per data from @SoSoValueCrypto
Other ETH ETFs See Inflows
Only ETHE experienced outflows on Monday among spot Ethereum ETFs
In contrast, @BitwiseInvest's ETHW ETF had net inflows of $1.34 million, while the other seven spot Ethereum ETFs had no changes in their flows
Despite ETHE's outflows, the total trading volume for all nine Ethereum ETFs rose to $167.35 million from $139.47 million on Friday
Ethereum Expected to Perform Well in October
Ethereum is projected to perform strongly in October, with prices likely ranging from $2,200 to $3,400
The Federal Reserveâs dovish stance on interest rates could enhance Ethereum's appeal as a yield-generating asset, aligning with its staking yield of about 3.5%
The launch of @eigenlayer and the popularity of Ethereum-based meme coins like Neiro may further boost its market performance
