FameEX Hot Topics | Spot Ether ETF Sees $300M Outflow, But ETH Derivatives Turn Bullish

Ethereum continues to show resilience despite recent headwinds. Spot ETH ETFs in the U.S. saw $300 million in outflows over two trading sessions, breaking a streak of steady inflows. Still, ETH derivatives and institutional activity remain healthy, supporting the view that Ethereum’s long-term trajectory toward $5,000 is intact. On Wednesday, ETH rebounded 4.7%, moving further above the $4,300 mark after breaking a seven-day downtrend.

The scale of the outflows, while significant, represents just 1.3% of total ETF assets under management. Earlier, steady inflows into these funds and strong corporate accumulation fueled a 33% rally in ETH during the first three weeks of August. Meanwhile, volatility since August 28 triggered $344 million in long liquidations across exchanges, briefly pressuring sentiment. Even so, traders are not showing aggressive bearish positioning, suggesting that the recent turbulence remains within normal market cycles.

Exchange and derivatives data further reinforce this stability. Long demand dipped late last week but quickly stabilized, while short interest failed to rise meaningfully. Options markets reflected a similar trend: after a weekend surge in put demand, activity flipped to calls by midweek. With put-to-call ratios returning closer to neutral levels, markets appear to be pricing in cautious optimism rather than panic.

Macroeconomic data added complexity to the backdrop. The U.S. JOLTS report showed job openings relative to unemployed workers falling to the lowest since April 2021, a sign of labor market weakness. Economist Allison Shrivastava noted that unemployed workers are staying out of jobs longer, even with layoffs subdued. At the same time, gold prices soared to record highs as concerns over slowing growth and rising U.S. fiscal debt pushed demand for safe havens. JPMorgan analysts lifted their gold forecasts, expecting Federal Reserve rate cuts to reduce bond appeal—potentially redirecting liquidity into alternative assets such as Bitcoin and Ethereum.

Ethereum’s ecosystem also drew investor confidence. On Wednesday, Etherealize, a startup building infrastructure for tokenized financial assets like mortgages and credit instruments, announced a $40 million funding round led by Electric Capital and Paradigm. The deal highlights how capital continues to flow into Ethereum’s broader use cases beyond price action alone. In the end, Ethereum’s push toward $5,000 will depend on whether institutional flows and derivatives support can offset ETF withdrawals and whether macroeconomic uncertainty—from weakening labor data to global trade tensions—creates further volatility or strengthens demand for alternative assets.

Disclaimer: The information provided in this section is for reference only and does not represent any investment advice or the official views of FameEX.