US spot #Ethereum ETFs recorded net inflows of $546.96 million on Monday, their largest single-day inflow since August 14, per SoSoValue data.
Notably, the nine products saw inflows simultaneously for the first time since their launch in July 2024, with Fidelity's Ethereum Fund (FETH) and BlackRock's iShares Ethereum Trust (ETHA) leading with $202.18 million and $154.20 million, respectively.
The positive move follows a brief recovery in $ETH over the past few days as it looks to offset losses from its plunge below $4,000 last week, which sparked five consecutive days of net outflows, totaling $795.56 million, in ETH ETFs.
The recovery in institutional interest is accompanied by rising ETH exchange net outflows. Withdrawals from exchanges have outpaced inflows by 117,900 ETH on Tuesday, indicating a dominant bullish sentiment across the spot market, according to data from CryptoQuant. Unlike in ETFs, exchange net outflows indicate that buying pressure is higher than selling pressure.
However, signs of caution are evident in the futures market, where Ethereum's open interest has remained subdued since September 26, per Coinglass data. The lack of recovery in Ethereum's open interest — the total amount of active or unsettled contracts in its futures market — indicates a reluctance from traders to take on leverage, especially after the heavy liquidations from last week's decline.
