In the wake of U.S. labor market data, Ether ETFs experienced considerable outflows in recent days. Meanwhile, experts predict a potential recovery.
Results of Outflows from Ether ETFs
In the week leading up to Labor Day in the U.S., Ether-based ETFs (ETH) faced four consecutive days of outflows totaling $787.6 million. On Friday alone, Ether ETFs shed $446.8 million.
In contrast, Ether ETFs recorded inflows of $3.87 billion in August, while Bitcoin (BTC) ETFs posted $751 million in outflows.
Prospects for Inflows
Despite recent outflows, several market participants are optimistic about a return of inflows soon. Crypto trader Ted stated, "I’m expecting inflows to return if Ethereum continues this pump."
Expectations and Predictions for Ether
Despite current outflows, Ether advocates remain bullish. BitMine chairman Tom Lee confidently predicted that ETH could reach $60,000 in the long term. He noted that Wall Street’s interest in ETH could play a pivotal role in its growth.
Overall, despite the recent outflows, optimism in the Ether market remains, with many participants hoping for a quick recovery.
