Ether (ETH) traded below $3,100 on Sunday amid a broader pullback in digital assets. The token was recently near $3,066 at 9:36 p.m. UTC, down 3.4% over the past 24 hours. It briefly fell below the $3,100 level on Bitstamp at around 4 p.m. UTC, marking its first break beneath that threshold since November 4, according to data from TradingView.
Timothy Peterson, an investment manager and digital asset researcher at Cane Island Alternative Advisors, noted that spot Ether ETFs posted net outflows in four of the past five weeks, totaling roughly 7% of the cost-basis capital invested in these products. In comparison, Bitcoin ETFs saw about 4% withdrawn over the same period—a smaller share that Peterson believes indicates investors currently view Ether as the riskier asset.
Cost-basis capital refers to the total amount of money originally committed to an ETF, excluding gains or losses accumulated after the purchase. This measure reflects how much foundational capital long-term participants have contributed to a fund. When redemptions rise as a share of this original investment base, analysts interpret it as an erosion of conviction among established holders rather than short-term positioning changes.
Because the metric focuses on investors’ initial commitments, it can provide a clearer read on sentiment than headline inflow and outflow data, which can be affected by week-to-week volatility.
Traders will now be watching closely to see whether Ether’s ETF outflows ease or continue in the coming weeks, as well as how the token trades around key levels following Sunday’s move below $3,100. Future flow data and price action are likely to reveal whether the sentiment gap highlighted by Peterson between Ether and Bitcoin persists.
https://www.coindesk.com/markets/2025/11/16/ether-dips-below-usd3-100-investment-manager-says-market-views-eth-as-more-risky-than-btc
