Spot ether exchange-traded funds (ETFs) experienced their fifth consecutive day of outflows, totaling $952 million, with over $787 million in outflows in just four days. In contrast, spot bitcoin ETFs saw $246.4 million in net inflows over the past week.

Ether has risen more than 16% in the last month but dropped 1.8% in the past week, trading just under $4,300. The recent decline may be linked to a broader market shift away from risk assets due to weak U.S. jobs data and fears of a recession.

Traders are now evaluating an 89% likelihood of a 25 bps rate cut by the Federal Reserve and an 11% chance of a 50 bps cut. Additionally, there are 12% odds of a 50 bps rate cut according to Polymarket.

Concerns over economic uncertainty and geopolitical risks have driven the price of gold to surpass the $3,600 mark for the first time, fueled by weak U.S. jobs data and expectations of a rate cut by the Federal Reserve.

Read more at Yahoo Finance: Spot Ether ETFs Shed $952M Over 5 Days as Recession Fears Grow