The US spot Ethereum ETFs recorded their first positive net inflows since their inception on 23 July 2021. The nine newly launched spot Ether ETFs saw a total net inflow of $104.8 million for the week starting August 5. This inflow happened while Ether’s price fell by 23% since the start of August.
BlackRock Leads Ethereum ETFs with $188.4M Inflow
The most significant inflows went to BlackRock’s iShares Ethereum Trust (ET), which attracted $188.4 million. The fund raised over $900 million in the first 13 days, with no days of outflow. The Fidelity Ethereum Fund (FETH) was second, with $44.65 million in inflows, totalling $342 million.
Another source also helped to boost the inflow. The Grayscale Mini Ethereum Trust (ETH) gathered $19.8 million, while the VanEck Ethereum Trust (ETHV) gathered $16.6 million. Other entrants on the list include Bitwise’s Ethereum ETF (ETHW) and Franklin’s Ethereum ETF (EZET), which captured $11.7m and $3.7m, respectively, in fresh inflows.
Grayscale Ethereum Trust Sees $180 Million Outflow
However, while the overall trend was positive, Grayscale’s Ethereum Trust (ETHE) recorded outflows of $180 million in the same week. This reduced the total net asset value for all nine funds, with a net outflow of $406.4 million. Overall, the net asset value of the nine ETFs was $7.3 billion as of August 9, which shows the rather diverse results of the various funds.
At the same time, the 21Shares Core Ethereum ETF (CETH) and the Invesco Galaxy Ethereum ETF (QETH) had no net inflows or outflows. Hence, this lack of directional movement points to divergence in investor sentiment across various Ethereum-linked ETFs.
ETF Providers Eye Ethereum Options Market Expansion
ETF providers are planning to launch options products linked to their physical Ethereum-based feeder funds to demonstrate the market’s prospects. On August 7, NYSE American LLC submitted a rule change request to list options contracts for three ETH ETFs of Grayscale and Bitwise. This change might give investors a more comprehensive range of approaches for dealing with Ethereum risk.
The inflows into Ethereum ETFs were made when Ether, the currency on the Ethereum network, was experiencing some tough times, as it posted massive price drops. Nevertheless, the investors continue to invest their money in these ETFs, implying that they still have a long-term vision regarding Ethereum. This is also clear evidence that the cryptocurrency market is volatile and that investor behaviour is not constant.
The US spot Ether ETFs recorded their first positive net inflows since their inception on 23 July 2021. The nine newly launched spot Ether ETFs saw a total net inflow of $104.8 million for the week starting August 5. This inflow happened while Ether’s price fell by 23% since the start of August.
BlackRock Leads Ethereum ETFs with $188.4M Inflow
The most significant inflows went to BlackRock’s iShares Ethereum Trust (ET), which attracted $188.4 million. The fund raised over $900 million in the first 13 days, with no days of outflow. The Fidelity Ethereum Fund (FETH) was second, with $44.65 million in inflows, totalling $342 million.
Another source also helped to boost the inflow. The Grayscale Mini Ethereum Trust (ETH) gathered $19.8 million, while the VanEck Ethereum Trust (ETHV) gathered $16.6 million. Other entrants on the list include Bitwise’s Ethereum ETF (ETHW) and Franklin’s Ethereum ETF (EZET), which captured $11.7m and $3.7m, respectively, in fresh inflows.
Grayscale Ethereum Trust Sees $180 Million Outflow
However, while the overall trend was positive, Grayscale’s Ethereum Trust (ETHE) recorded outflows of $180 million in the same week. This reduced the total net asset value for all nine funds, with a net outflow of $406.4 million. Overall, the net asset value of the nine ETFs was $7.3 billion as of August 9, which shows the rather diverse results of the various funds.
At the same time, the 21Shares Core Ethereum ETF (CETH) and the Invesco Galaxy Ethereum ETF (QETH) had no net inflows or outflows. Hence, this lack of directional movement points to divergence in investor sentiment across various Ethereum-linked ETFs.
ETF Providers Eye Ethereum Options Market Expansion
ETF providers are planning to launch options products linked to their physical Ethereum-based feeder funds to demonstrate the market’s prospects. On August 7, NYSE American LLC submitted a rule change request to list options contracts for three ETH ETFs of Grayscale and Bitwise. This change might give investors a more comprehensive range of approaches for dealing with Ethereum risk.
The inflows into Ethereum ETFs were made when Ether, the currency on the Ethereum network, was experiencing some tough times, as it posted massive price drops. Nevertheless, the investors continue to invest their money in these ETFs, implying that they still have a long-term vision regarding Ethereum. This is also clear evidence that the cryptocurrency market is volatile and that investor behaviour is not constant.
