The U.S. spot Ethereum exchange-traded fund (ETF) has experienced its longest period of outflows ever since its inception on July 23.
According to data from Farside Investors , the ETH ETF experienced outflows for five consecutive days from August 15 to August 21, totaling $92.2 million.
These outflows were primarily attributed to Grayscale Ethereum Trust (ETHE), which saw withdrawals of $158.6 million during the same period.
Grayscale outflows mask inflows from other funds
Grayscale’s outflows have overshadowed inflows into other recently approved spot Ethereum ETFs, including BlackRock’s iShares Ethereum Trust ETF (ETHA), Fidelity Ethereum Fund (FETH), and Bitwise Ethereum ETF (ETHW).
For example, ETHA successfully became the first spot Ethereum ETF with a net inflow of more than US$1 billion on August 20, which alleviated the overall negative trend to a certain extent.
However, the Grayscale Ethereum Mini Trust (ETH) has bucked the trend, reporting no outflows since its launch and maintaining positive net inflows of $231.9 million.
At the time, nine spot Ethereum ETFs recorded a total of $104.8 million in net inflows in the week starting August 5.
They also collectively traded $1.9 billion worth of assets, bringing their combined net worth to $7.3 billion as of August 9.
Notably, ETF issuers are pushing to introduce options products for their spot Ethereum funds.
Recently, the New York Stock Exchange (NYSE) Americas proposed a rule change to list and trade options on three Ethereum ETFs managed by Grayscale and Bitwise.
The move is to introduce options for the Bitwise Ethereum ETF (ETHW), Grayscale Ethereum Trust (ETHE), and Grayscale Ethereum Mini Trust (ETH).
Spot Bitcoin ETFs maintain positive fund flows
Compared to the Ethereum ETF, the U.S. spot Bitcoin ETF has performed better, maintaining positive fund flows in eight of the past ten days.
As of August 20, these ETFs recorded a total net inflow of $88 million, with BlackRock’s iShares Bitcoin Trust leading the way with net inflows of $55.4 million.
Since its launch in January 2024, spot Bitcoin ETFs have accumulated net positive inflows of US$17.5 billion, showing stronger investor demand than Ethereum.
Overall, spot BTC and ETH ETFs launched this year have attracted significant investments from major financial institutions, with institutions including Goldman Sachs and Morgan Stanley investing more than $600 million in these products in the second quarter.
According to the latest data from Bitwise, more and more institutional investors are reportedly increasing their Bitcoin holdings through spot ETFs.
In the second quarter of 2024, approximately 66% of institutional investors maintained or increased their Bitcoin ETF holdings.
Meanwhile, only 21% of institutional investors reduced their holdings, while an even smaller 13% chose to exit completely.
New Dogecoin is coming
As lackluster demand and negative liquidity threaten to hinder a near-term rebound, traders are turning to emerging low-market-cap meme coins that are poised for explosive growth .
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