Major factors like market performance and economic conditions have led to big outflows from Grayscale’s ETHE. On August 2, 2024, Ethereum ETFs saw significant movement, resulting in a historic net outflow of $2.117 billion from ETHE.
Data from SoSoValue reveals that on August 2, the total net outflow from Ethereum spot ETFs reached $54.27 million. A substantial portion of this outflow came from Grayscale’s Ethereum Trust ETF (ETHE), which alone experienced a net outflow of $61.43 million in just one day.
Mixed Trends in Ethereum ETFs
Grayscale’s Ethereum Trust ETF (ETHE) has been a key player in the market, allowing investors to gain exposure to Ethereum without buying or storing the cryptocurrency directly. However, recent trends show significant outflows from ETHE, indicating a shift in investor sentiment.
Ethereum ETFs posted a $54.27 million net outflow on Aug. 2. Source: SosoValue
While ETHE has faced considerable outflows, other Ethereum ETFs have shown different trends. The Grayscale Ethereum Mini Trust ETF (ETH) has maintained its stability, reporting no outflows and keeping a net inflow of $201 million. This contrasts with the volatility seen in ETHE.
Fidelity’s Ethereum spot ETF (FETH) experienced the highest net inflow recently, adding $6.0176 million in a single day, which brings its total net inflow to $297 million. Similarly, the Franklin Templeton ETF (EZET) recorded a net inflow of $1.1433 million in one day, with a cumulative net inflow of $30.6733 million.
Ethereum Spot ETFs: Net Outflows and Recent Inflows
As of publication, the total net asset value of Ethereum spot ETFs stands at $8.332 billion. The ETF net asset ratio, which measures the market value of Ethereum held in ETFs compared to the total market value of ETH, is currently at 2.29%.
Historically, Ethereum spot ETFs have experienced a cumulative net outflow of $511 million, reflecting a net withdrawal of funds from these investment products. Despite this overall trend, on August 1, 2024, the daily net inflows into U.S. spot Ether ETFs were positive. These ETFs saw a net inflow of $26.7 million, with BlackRock’s iShares Ethereum Trust (ETHA) leading with an inflow of $89.6 million.
At the time of publication, Ethereum (ETH) is trading at $2,987, having dropped approximately 5.71% since the launch of these ETFs.
Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.
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