*ETH ETFs pumping but futures traders aren't buying it
Been tracking ETH flows and there's a weird disconnect happening...
ETH down 4% this week while BTC sits near ATH
Price: $2,491 (rejected from $2,800)
ETF inflows: $322M in 2 weeks
But futures traders? Not impressed.
Something's off here
*ETF vs Futures divergence
ETFs looking solid:
-$322M inflows after $2,800 rejection
-SEC reviewing in-kind redemptions + staking
-August deadline for potential improvements
Futures telling different story:
-Funding rates crashed from +10% to -2%
-Weak demand for leveraged long positions
-Bears actually getting paid now
This disconnect is wild.
*Competition heating up
Other altcoin ETFs coming:
-SOL, LTC, DOT, XRP all in pipeline
-Bloomberg's Balchunas: 90%+ approval chance in 2025
-Traders maybe rotating attention?
ETH losing its ETF exclusivity could explain the lukewarm futures sentiment.
Options staying neutral
Delta skew check:
-Currently in neutral -5% to 5% range
-Improved from -7% two weeks ago
-No panic hedging signals
Translation: Pros aren't freaking out, just not excited either.
Bulls vs bears
ETH maximalists argue:
-L2 modular architecture advantage
-Deepest liquidity access
-Better institutional positioning
Reality check: Still 50% below ATH at $4,000+
Hard to get excited when you're that far from highs.
*My take
The disconnect is real: ETFs flowing in but futures traders sitting out.
Possible reasons:
-Competition from upcoming altcoin ETFs
-Price too far from ATH for FOMO
-Waiting for SEC staking/redemption news
Bottom line: ETF narrative solid long-term, but short-term momentum lacking.
August SEC decision could be the catalyst ETH needs.
Are you buying the ETF story or waiting for better entry?
