US-based spot Ether ETFs saw four consecutive days of net outflows due to the US Labor Day holiday, totaling $787.6 million over the week. Meanwhile, Bitcoin ETFs had $250.3 million in inflows during the same period. Traders anticipate a rebound in ETH inflows as the digital asset is up 16.35% in the past month.

Despite recent outflows, Ether advocates are bullish on the cryptocurrency. BitMine chairman Tom Lee predicts ETH will hit $60,000 in the long term, citing Wall Street interest as a potential catalyst. BitMine holds $8.04 billion in ETH, with treasury companies collectively owning 2.97% of the total supply valued at $15.49 billion.

Santiment reported that Ether whales have been increasing their holdings by 14.0% over five months, accumulating more coins since the token’s yearly lows in April. Whale holders with 1,000 to 100,000 ETH have been actively buying, indicating confidence in Ether’s future potential.

Read more at Cointelegraph: Ether ETFs Post 4-Day Outflows After Strong August