Spot ETH ETFs experience $1B in outflows over six days as hopes for interest rate cuts diminish.

Market Update: Outflows and Fluctuations in Crypto ETFs

Investors have pulled out over $1.04 billion during six consecutive trading days, primarily due to growing macroeconomic uncertainty and a declining belief in rate-cut benefits.

On Monday, the Ether (Eth) ETF experienced a net outflow of $96.7 million, mainly driven by BlackRock’s ETHA. This decline was somewhat countered by Fidelity’s $75 million inflows into Feth, along with Grayscale’s $9.5 million in Ethe and another $11 million in Mini Fund inflows.

Overall, trading volume reached $1.52 billion. The total net worth fell to $273.9 billion, representing about 5.28% of Ethereum’s market capitalization, according to data from SOSOValue.

Over the past six days, the Spot Ether ETF has seen a total outflow of $1.04 billion. Notably, the largest withdrawal was $446.7 million on Friday, with $38.2 million withdrawn on Wednesday.

Shifting Confidence Amid Financial Dynamics

Recent selling pressure came as traders reconsidered the Federal Reserve’s strategy. The CME FedWatch tool indicates a 100% probability of a 25 basis points reduction this September, yet key strategists may not align on anticipated growth rate cuts.

David Kelly, the Chief Global Strategist at JPMorgan Asset Management, mentioned that reduced fees could negatively impact retirement income and diminish business confidence, complicating the economic landscape.

This cautious sentiment is evident across different markets. As noted by the Bitunix analyst desk, Treasury yields are softening, US dollar positions are weakening, and gold prices are rising—classic indicators of a defensive market stance.

Analysts suggest that Ethereum is maintaining support around $4,250-$4,300, with significant resistance near $4,500. Bitcoin is experiencing a similar scenario, with data showing strong interest and resistance ranging from about $108,800 to $114,200.

Spot Bitcoin ETF Gains Traction

In contrast, the Spot Bitcoin (BTC) ETF reported a positive turn on Monday, registering a net inflow of $368.25 million, breaking a two-day streak of losses that totaled over $387 million.

Total trading volume for Bitcoin ETFs reached $3.02 billion, raising their total net worth to $1,454.1 billion. This influx helped offset previous losses, pushing the cumulative net inflow to $54.866 billion.