Ethereum continues to trade sluggishly in the $2,400 range. Even as news emerges that funds are flowing back into the U.S. spot exchange-traded fund (ETF) market, the price has shown no clear rebound. As of the afternoon of the 22nd, Ethereum is trading at $2,403.89.

With both Bitcoin, the flagship cryptocurrency, and Ethereum, the leading altcoin, remaining in bearish territory, attention is focused on the gap between ETF fund flows and actual price movements.

■ Bitcoin Spot ETF Sees Net Inflows for Third Consecutive Trading Day

Adex_crypt, an active member of the CoinMarketCap community, citing SoSoValue data, reported that U.S. Bitcoin spot ETFs recorded net inflows of $528.4 million on October 21. Bitcoin spot ETFs were reported to have posted net inflows for three consecutive trading days. The figures are seen as evidence that investment demand in the ETF market continues, given the substantial scale of funds flowing in over a short period.

■ Ethereum Spot ETF Ends Five-Day Streak of Net Outflows

A change in fund flows also appeared in Ethereum spot ETFs. Net inflows were tallied at $14.96 million on October 21, ending the streak of net outflows that had lasted for the previous five trading days.

However, there was a considerable difference in the scale of ETF inflows between the two assets. Net inflows into Bitcoin spot ETFs were about 35.3 times larger than those into Ethereum spot ETFs.

■ One Day of Inflows Not Enough to Judge Recovery in Investment Demand

While the shift of Ethereum ETFs back to net inflows is noteworthy, a single day of fund inflows is not enough to conclude that investment demand has sustainably recovered. It remains necessary to confirm whether net inflows continue going forward.

For Bitcoin as well, ETF inflows do not necessarily coincide with price increases. Even if buying demand emerges in the ETF market, prices can fall or move in a limited fashion depending on selling volume and investor sentiment in other trading markets.

Ethereum, trading in the $2,400 range, is facing a new change as ETF fund flows have shifted to net inflows. However, it has yet to be confirmed whether the shift to inflows will translate into a price rebound. In the cryptocurrency market, both Bitcoin and Ethereum are simultaneously showing the positive indicator of ETF inflows and weak price movements. Whether ETF fund flows persist and how actual market prices respond will be the key points to watch.

[This article is intended to provide information for investment reference purposes and does not recommend the purchase or sale of any specific asset. Conditions may vary depending on market circumstances. Investment decisions and the responsibility for them rest with the investor. AI provided partial assistance.]