Ethereum (ETH) exchange-traded funds (ETFs) in the US saw a positive turn on Aug. 28 as they registered $5.9 million in net inflows after nine consecutive days of outflows, according to data from Farside Investors. Grayscale Ethereum Trust (ETHE) recorded the smallest outflows at $3.8 million since the spot Ether ETFs were introduced in the US on July 23. In contrast, BlackRock’s iShares Ethereum Trust ETF (ETHA) saw $8.4 million in inflows, marking the first sign of funds flowing in after a five-day dry spell. Fidelity Ethereum Fund (FETH) also added $1.3 million in inflows, wrapping up a positive day for Ethereum ETFs in the US.
ETHA has been holding strong since its launch, with no outflows recorded in the 27 trading days since its debut. On the other hand, ETHE’s outflows seem to be tapering off as the amount of capital leaving the fund has decreased steadily since Aug. 22. Despite the negative net flows of $475.7 million for US-traded Ethereum ETFs since their launch, excluding ETHE’s $2.55 billion outflows, these funds have accumulated over $2 billion in inflows in just 27 trading days.
Nate Geraci, CEO of ETF Store, highlighted that if the cumulative value of Ethereum ETFs is viewed as one product, it would rank as the fourth-largest ETF launch to date. Geraci noted that ETHA is currently the largest spot Ethereum ETF with over $1 billion in inflows, making it the seventh-largest ETF launch overall. FETH and Bitwise Ethereum ETF (ETHW) follow behind with significant inflows of $392.9 million and $314.1 million, respectively. Despite ETHE contributing to negative net flows for spot Ethereum ETFs, its Ethereum Mini Trust (ETH) has seen positive inflows of $235.6 million since its launch.
Overall, US-traded Ethereum ETFs are showing promising growth and positive flows after a period of outflows. The interest in Ether-based ETFs reflects the increasing popularity and demand for Ethereum in the market. With the positive turn in net flows and the accumulation of over $2 billion in inflows, Ethereum ETFs are establishing themselves as significant players in the ETF space. Investors are showing confidence in Ethereum as an investment asset, with funds flowing into ETHA, FETH, and other Ethereum-based ETFs.
The positive flows into US-traded Ethereum ETFs are a positive sign for the overall market sentiment towards Ethereum. The consistent inflows into ETHA, FETH, and other Ethereum ETFs indicate growing investor interest in the digital asset space. The positive net flows after a period of outflows show resilience and confidence in Ethereum as a long-term investment option. The strong performance of Ethereum ETFs indicates that investors see potential in Ethereum as a valuable asset for their portfolios.
In conclusion, Ethereum ETFs in the US are rebounding from a nine-day losing streak as they registered $5.9 million in net inflows on Aug. 28. Grayscale Ethereum Trust (ETHE) recorded the smallest outflows since the inception of spot Ether ETFs in the US, while BlackRock’s iShares Ethereum Trust ETF (ETHA) and Fidelity Ethereum Fund (FETH) saw significant inflows. The positive turn in net flows and the accumulation of over $2 billion in inflows demonstrate growing investor interest in Ethereum ETFs and confidence in Ether as an investment asset. The strong performance of Ethereum ETFs indicates a promising outlook for the digital asset in the market.
