Are Ethereum ETFs a price headwind?

US-traded spot Ethereum exchange-traded funds (ETFs) recorded persistent outflows during late September and mid-October, periods that coincided with relative weakness in the ETH/BTC ratio. Yet, non-US inflows and continued staking growth blunted the price impact, suggesting the headwind is episodic rather than structural. The question of whether ETF redemptions drive Ether’s underperformance against Bitcoin requires […]