ETHE was the only Ethereum spot ETF to see outflows on Monday.

图片

The U.S. spot Ethereum exchange-traded fund (ETF) saw a large net outflow on Monday, with outflows reaching $79.21 million, the largest single-day outflow since July 29.

The main reason for the sharp drop was the Grayscale Ethereum Trust Fund (ETHE), with withdrawals from this fund alone reaching $80.55 million.

This was the fund’s biggest outflow since July 31, according to Sosovalue data.

Other ETH ETFs see inflows

Notably, ETHE was the only Ethereum spot ETF to see outflows on Monday.

In contrast to ETHE’s performance, Bitwise’s ETHW ETF saw net inflows of $1.34 million, while the remaining seven spot Ethereum ETFs saw no change in flows.

Despite the massive outflows from ETHE, total volume across the nine Ethereum ETFs reached $167.35 million, up from $139.47 million on Friday.

In contrast, U.S. spot Bitcoin ETFs saw modest inflows of $4.56 million on Monday, extending a three-day streak of positive inflows.

图片

Fidelity’s FBTC led with $24.93 million in net inflows, followed by BlackRock’s IBIT with $11.54 million, and Grayscale’s Bitcoin Trust (GBTC) with $8.42 million.

However, after two consecutive days of no activity, GBTC reported a significant net outflow of $40.33 million.

Total volume for the 12 spot bitcoin ETFs fell to $949.72 million on Monday, down from $980.57 million on Friday.

Digital asset investment products reportedly saw an upturn last week, with inflows reaching $436 million after a prolonged period of outflows totaling $1.2 billion.

The reversal was influenced by changes in market expectations, especially the likelihood of a 50 basis point rate cut.

Bitcoin and Ethereum are expected to perform strongly in October

Ryan Lee, chief analyst at Bitget Research, said that Bitcoin and Ethereum are expected to perform strongly in October.

In his comments, Lee said that after a challenging September, Bitcoin is expected to reach a price between $58,000 and $72,000, driven by a combination of macroeconomic factors, market indicators and institutional activity.

He said the Fed's recent decision to cut the federal funds rate by 50 basis points to a range of 4.75%-5% "marks a formal shift in monetary policy."

The move, aimed at injecting liquidity into the market, has led to a short-term rally in U.S. stocks and cryptocurrency markets.

Li believes that after adjustments in the second and third quarters, Bitcoin is currently facing a good opportunity for accumulation.

In September, the Bitcoin futures market also experienced several instances of negative funding rates, mainly due to the liquidation of long futures positions caused by spot market sell-offs.

Coupled with the fact that the Fear & Greed Index has been fluctuating around "Extreme Fear" all month, historical data suggests that a rebound is likely under these circumstances.

For Ethereum, the outlook is similarly positive, with a price range of $2,200 to $3,400 expected.

The Fed’s dovish stance on rates could make Ethereum an attractive “yield” asset once rates align with ETH’s staking yield, which is around 3.5%.

Additionally, the upcoming launch of Eigenlayer, a major Ethereum ecosystem project, is likely to attract a significant amount of market capital, further boosting ETH’s performance.

Additionally, the recent surge in popularity of Ethereum-based memecoins such as Neiro has created a powerful wealth effect, attracting more users to buy ETH and participate in early trading of these assets.