US Spot Ethereum ETFs See First Week of Positive Net Inflows Since Launch
Ruholamin Haqshanas is a contributing crypto writer for CryptoNews. He is a crypto and finance journalist with over four years of experience. Ruholamin has been featured in several high-profile crypto...
U.S. spot Ethereum exchange-traded funds (ETFs) have experienced positive net inflows for the first time since their debut on July 23.
According to data from ETF tracker SoSoValue, the nine newly launched spot Ether ETFs in the U.S. recorded a combined net inflow of $104.8 million during the week starting on August 5.
This marks a significant milestone for these ETFs, as they collectively traded a total value of $1.9 billion, bringing their total net assets to $7.3 billion as of August 9.
The influx of capital came despite a sharp decline in the price of Ether, the underlying asset, which has seen a 23% drop since the beginning of August.
Notably, six out of the nine funds recorded positive net flows during this period.
Leading the charge was BlackRock’s iShares Ethereum Trust (ETHA), which saw the largest inflow with $188.4 million.
Since its launch, the BlackRock fund has accumulated over $900 million in assets and has not yet recorded a single day of outflows.
Fidelity’s Ethereum Fund (FETH) followed as the second-highest performer, drawing in $44.65 million last week, bringing its total assets to $342 million.
GM$ETH spot ETFs saw a $105 million inflow last week.
Let’s see if this momentum continues this week! pic.twitter.com/oIascBGYYf
Other ETFs that recorded positive inflows include Grayscale’s Mini Ethereum Trust (ETH) with $19.8 million, VanEck Ethereum ETF (ETHV) with $16.6 million, Bitwise Ethereum ETF (ETHW) with $11.7 million, and Franklin Ethereum ETF (EZET) with $3.7 million.
However, the 21Shares Core Ethereum ETF
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