Spot Ethereum exchange-traded funds (ETFs) in the U.S. ended a nine-day outtrend with net inflows of $5.84 million on Wednesday.
Spot Ethereum ETFs See $5.8 Million Inflows, Breaking Nine-Day Outflow Streak
Data from SoSoValue reveals that the Grayscale Ethereum Trust (ETHE) experienced a daily net outflow of $3.81 million, but this was more than offset by inflows into other funds.
Specifically, there was an inflow of $8.4 million into BlackRock’s spot Ethereum fund and $1.26 million into Fidelity’s FETH fund.
Despite the recent inflows, nine spot Ethereum ETFs recorded $151.57 million in trading volume on Wednesday, a significant difference compared to the approximately $900 million in volume seen in late July when these ETFs were first launched.
Overall, these funds have faced total net outflows of $475.48 million since their inception.
In contrast, US spot Bitcoin ETFs continued to experience net outflows, with $105.19 million withdrawn on Wednesday.
The biggest outflows came from Ark and 21Shares’ ARKB, which withdrew $59.27 million. Fidelity’s FBTC and VanEck’s Bitcoin fund also reported outflows of $10.37 million and $10.07 million, respectively.
Other funds, including Bitwise’s BITB, Grayscale’s mini Bitcoin fund, and the larger Grayscale Bitcoin Trust (GBTC), collectively reported net outflows of around $8 million.
Interestingly, BlackRock’s IBIT, the largest spot Bitcoin ETF by net assets, and five other Bitcoin ETFs reported no flows during the day.
Despite these outflows, spot Bitcoin ETFs had a total trading volume of $2.18 billion on Wednesday, compared with $1.2 billion the day before.
*This is not investment advice.