According to a chart analysis published by independent analyst Markus Thielen on May 18, the 30-day moving average of daily net inflows into ETH ETFs over the past year has closely mirrored Ethereum’s price movement, making institutional capital flows a core driver of ETH’s price. However, with the U.S. 10-year Treasury yield rising above 4.6% and inflation accelerating again, Ethereum’s approximately 2.5% net staking yield is becoming less attractive compared to risk-free assets. Since May, ETH ETFs have once again experienced net outflows; if this trend continues, Ethereum’s price is likely to remain in a sideways consolidation range.
ETH ETF outflows and declining staking yields may pressure Ethereum's price.
TechFlowShare
Summary
ETH price movements have closely tracked the 30-day average of daily net inflows into ETH ETFs, according to analyst Markus Thielen. Recent ETF outflows in May signal a shift in capital flow. With U.S. 10-year yields rising above 4.6%, Ethereum’s 2.5% staking yield has become less attractive. Continued ETF outflows could keep ETH prices in a consolidation phase.
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