Ethereum ETFs See Strong Inflows Following 9-Day Decline

Spot Ethereum (ETH) exchange-traded funds (ETFs) in the US saw a turnaround on Aug. 28, with $5.9 million in net inflows after nine consecutive days of outflows, according to Farside Investors data.

Grayscale Ethereum Trust (ETHE) experienced $3.8 million in outflows, the lowest since the spot Ether ETFs launched in the US on July 23. On the other hand, BlackRock’s iShares Ethereum Trust ETF (ETHA) recorded $8.4 million in inflows, marking the first positive movement after five days of stagnation. The Fidelity Ethereum Fund (FETH) added $1.3 million in inflows, rounding out the day positively.

ETHA has maintained a streak of no outflows since its inception, exhibiting neutral flows on nine out of 27 trading days. ETHE’s outflow trend appears to be easing as the outflow amount has gradually decreased since Aug. 22.

Since their launch, US-traded Ethereum ETFs have seen negative net flows of $475.7 million, but excluding the $2.55 billion outflows from ETHE, these funds have surpassed $2 billion in inflows within just 27 trading days. ETF Store CEO Nate Geraci noted that considering the cumulative value of Ethereum ETFs as a single product, it would rank as the fourth-largest ETF launch to date.

The “super Ethereum ETF” would only trail behind Bitcoin (BTC) ETFs like BlackRock’s IBIT, Fidelity’s FBTC, and ARK 21Shares’ ARKB in terms of inflows. Geraci highlighted that ETHA currently stands as the largest spot Ethereum ETF with over $1 billion in inflows, making it the seventh-largest ETF launch.

FETH and Bitwise Ethereum ETF (ETHW) follow with the second and third most significant inflows, capturing $392.9 million and $314.1 million, respectively. While Grayscale’s ETHE has contributed to the negative net flows of spot Ethereum ETFs, its Ethereum Mini Trust (ETH) has added substantial value, registering $235.6 million in inflows since its inception.