US-based spot Ether exchange-traded funds (ETFs) recently experienced an unprecedented 19-day inflow streak, followed by their first net outflow day. The data, according to Farside, shows that the streak came to a halt on June 13, when the ETFs recorded net outflows of $2.1 million. This ended what had been the longest inflow streak since the ETFs were launched in July 2024.
The streak originally began on May 16, with a pause for the US Memorial Day market closure on May 26. Throughout these 19 days, the ETFs saw inflows totaling $1.37 billion. This accounts for approximately 35% of the ETFs’ total net inflows, which stand at $3.87 billion.
Prior to this, the longest inflow streak for spot Ether ETFs was an 18-day run that concluded on Dec. 19. This earlier streak was driven by a buoyant crypto market in the wake of Donald Trump’s election win in November.
However, despite the record-breaking inflow streak, Ether’s trading value is currently lower than it was at the beginning of the streak on May 16, when it traded at $2,620. At present, Ether is trading at $2,552, according to data from CoinMarketCap.
On June 11, the ETFs recorded their largest single-day inflow in over four months, pulling in $240.3 million. This was the biggest inflow since Feb. 4, when the ETFs attracted $307.8 million.
Several industry insiders have suggested that the introduction of a staking feature could increase interest in the spot Ether ETFs. Robbie Mitchnick, BlackRock’s head of digital assets, commented on March 20 that the ETFs are “less perfect” without staking.
Despite this, there is growing optimism for Ether. Santiment analyst Brian Quinlivan recently stated to Cointelegraph that Ethereum is drawing a significant amount of attention. He pointed out that the asset has been “playing catch-up since markets began their recovery in mid-April.”
Historically, though, Q3 has been less favorable for Ether, with the average returns since 2013 standing at just 0.88%, as per CoinGlass data.
In another major Ether-related development, sports betting platform SharpLink Gaming purchased 176,271 Ether for $463 million on June 13, becoming the largest publicly traded holder of ETH.
