ETH Holds $2,700 Despite $206M ETF Outflow Streak
Ethereum is holding $2,700 even as US spot ETFs suffer five straight days of heavy redemptions.
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Key takeaways
- US spot ETH ETFs lost $50.76 million on Oct. 5, extending outflows to five straight days.
- Total redemptions reached $205.88 million over the five-session losing streak.
- Derivatives traders are selling aggressively, but spot ETH remains resilient near $2,700.
Wall Street's dumping its Ethereum funds, but spot markets refuse to cave. SoSoValue data shows US spot ETH exchange-traded funds bled $50.76 million in net outflows on Oct. 5, stretching their losing streak to five straight sessions.
That five-day slump drained $205.88 million from US spot products. Meanwhile, derivatives markets show traders selling aggressively to push prices lower. Yet ETH keeps hovering near $2,700, keeping its broader market structure intact—for now.
Why it matters
Institutional interest is drying up, but spot buyers are stepping up to soak up the supply. If Ether defends $2,700 while Wall Street exits, it shows serious conviction among native crypto holders. But if derivative bear pressure breaks that support, cascading liquidations could drag prices down fast.
Source: CryptoSlate
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