Spot Ethereum ETFs See $5.8M Net Inflow After 9 Days of Outflows
Ruholamin Haqshanas is a contributing crypto writer for CryptoNews. He is a crypto and finance journalist with over four years of experience. Ruholamin has been featured in several high-profile crypto...
Ethereum spot exchange-traded funds (ETFs) have seen a net inflow of $5.8 million, marking the first positive movement after nine consecutive days of net outflows.
Among the key players, BlackRock’s ETHA ETF saw the largest inflow, attracting $8.4 million, according to data from SoSoValue.
Fidelity’s FETH ETF followed with an inflow of $1.3 million, contributing to the overall positive net flow.
In contrast, Grayscale’s ETHE ETF experienced an outflow of $3.8 million, reflecting some ongoing selling pressure despite the broader trend.
Ethereum spot ETF had a total net inflow of $5.8447 million on August 28, the first net inflow after net outflows in the past 9 days. Grayscale ETF ETHE had an outflow of $3.8112 million, BlackRock ETF ETHA had an inflow of $8.3967 million, and Fidelity ETF FETH had an inflow of…
The recent net outflows had extended to nine days, the longest streak of outflows since the funds started trading last month.
The cumulative effect of these outflows has brought the total net flow of Ethereum ETFs to nearly $500 million within the first five weeks of their launch.
Analysts from JP Morgan had anticipated weaker flows for Ethereum ETFs compared to Bitcoin ETFs, citing the absence of staking and lower liquidity as contributing factors.
They noted that Grayscale’s ETHE outflows had exceeded expectations, leading to discussions among asset managers about potentially launching a combined Bitcoin and Ethereum spot ETF.
Meanwhile, Bitcoin spot ETFs also faced challenges on Wednesday, with a total net outflow of $105
Read more on cryptonews.com
