Ethereum ETFs recorded a dramatic slowdown in September, with monthly inflows collapsing from $3.9 billion in August to just $285 million, according to Blockworks Research data.
The sharp drawdown marks one of the steepest reversals since ETH ETFs launched earlier this year.
The month-over-month change reflects what Blockworks Research analysts call a “flows-driven market.” Last week was the most negative week in aggregate since the March selloff, with bitcoin ETFs posting $900 million in outflows and Ethereum ETFs losing $800 million. Both asset classes have seen ETF flows mirror underlying spot prices, reinforcing the thesis that secondary market activity in the funds is dictating near-term price action.
Source: Blockworks Research
Part of the most recent outflows may be the result of the monthly trends, according to James Butterfill, CoinShares Head of Research,…
