ether The digital asset traded below $3,100 on Sunday amid a broader slide. The token was recently near $3,066 at 9:36 pm UTC, down 3.4% over the past 24 hours. At around 4 p.m. UTC it briefly fell below the $3,100 level on Bitstamp, the first break below that range since November 4, based on data from TradingView.
Timothy Peterson, investment manager and digital asset researcher at Cane Island Alternative Advisors, said spot ether ETFs have recorded net outflows in four of the past five weeks, amounting to about 7% of the cost-based capital invested in the products. He said the same period saw withdrawals from Bitcoin ETFs of about 4%, adding that he believes a smaller stake indicates that investors currently view Ether as a riskier asset.
Cost-based capital basically represents the total amount of money committed to the ETF, net of any accumulated gains or losses after purchase. This measure shows how much long-term participants have contributed to a fund. When redemptions increase as part of this core investment base, analysts interpret it as an erosion of conviction among established holders rather than a short-term position change.
Because the metric focuses on investors’ initial commitments, it can provide a clearer reading on sentiment than headline inflow and outflow data, which can be affected by week-to-week volatility.
Traders will now be watching to see if Ether’s ETF outflows subside or continue in the coming weeks, and how the token trades around key levels after dropping below $3,100 on Sunday. Future flows data and price action are likely to reveal whether the sentiment gap that Peterson highlighted between Ether and Bitcoin persists.