Ethereum Spot ETFs See $98M in Outflows, Extending 4-Day Trend
Ethereum spot ETFs experienced a significant net outflow of $98.3 million on July 29, marking the fourth consecutive day of outflows.
The Grayscale Ethereum Trust (ETHE) experienced a substantial single-day outflow of $210 million, data from SoSoValue shows.
Conversely, the Grayscale Ethereum Mini Trust (ETH) attracted $4.9 million in inflows.
Other ETFs showed mixed results, with BlackRock’s iShares Ethereum Trust (ETHA) seeing an inflow of $58.2 million, while Fidelity’s Ethereum Fund (FETH) garnered $24.8 million.
Ethereum spot ETF had a total net outflow of $98.2856 million on July 29, and continued to have net outflows for 4 consecutive days. Grayscale ETF ETHE had a single-day outflow of $210 million, Grayscale mini ETF ETH had a inflow of $4.8967 million, BlackRock ETF ETHA had a… pic.twitter.com/qicdRSrVUR
— Wu Blockchain (@WuBlockchain) July 30, 2024
The nine ETFs holding Ethereum experienced outflows totaling $340 million during their first week of trading.
This was a period marked by investor withdrawals from high-fee legacy products converted to exchange-traded funds.
Despite these outflows, eight new Ether ETFs, approved by the U.S. Securities and Exchange Commission, amassed $1.17 billion over four trading days ending July 26, according to Bloomberg data.
The most substantial inflows were into funds from BlackRock, Bitwise, and Fidelity, which attracted $442 million, $266 million, and $219 million, respectively.
In stark contrast, Grayscale’s established Ethereum Trust saw a loss of $1.5 billion.
The pattern of withdrawals mirrors previous investor behavior seen with the Bitcoin Grayscale Trust when spot ETFs for Bitcoin were introduced in January.
Investors appear to view the conversion of Grayscale’s fund as a
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