The US spot Ethereum ETFs saw a substantial total inflow of $4.9 million on Monday, showcasing a positive trend in the market. One notable highlight was the Grayscale Ethereum Trust (ETHE) which saw no withdrawals for the first time since its conversion to an ETF. This comes after experiencing 14 days of outflows, indicating a potential shift in investor sentiment towards Ethereum ETFs.
Leading Players in the Inflow Race
Among the Ethereum ETFs, the Fidelity Ethereum Fund (FETH) emerged as the leader in terms of inflows, attracting $3.98 million on Monday. It was closely followed by the Bitwise Ethereum ETF (ETHW) with $2.86 million and the Franklin Ethereum Trust (EZET) at $1.01 million. These significant inflows signal a growing interest among investors in Ethereum-based funds, driving the overall trading volume to $286 million on August 12th.
VanEck Ethereum Trust Records Net Outflows
While most Ethereum ETFs saw positive inflows, the VanEck Ethereum Trust (ETHV) was the only fund to record net outflows on August 12th, amounting to $2.92 million. This marks the first outflow since July 23 and indicates a potential shift in investor behavior towards this particular fund. On the other hand, ETFs like the Grayscale Ethereum Mini Trust (ETH) and the Invesco Galaxy Ethereum ETF (QETH) did not register any flows on Monday.
Despite recording zero inflows on August 12th, BlackRock’s iShares Ethereum Trust (ETHA) has experienced significant growth since its launch on July 23rd. With inflows exceeding $901 million, BlackRock has established itself as the leader in the Ethereum ETF market, surpassing competitors like Fidelity Investments, Bitwise, Grayscale Investments, and VanEck. This strong performance highlights the growing appetite for Ethereum-based investment products among institutional and retail investors.
Amid the recent market downturn, Ethereum has shown resilience and maintained its appeal to investors. The price drop seems to have attracted more investors to Ethereum, as evidenced by the strong inflows into various Ethereum ETFs. This positive trend bodes well for the future of Ethereum and solidifies its position as a leading digital asset in the investment landscape.
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