U.S. Spot Ether ETFs See Major Shifts: Grayscale Trust Faces $2.1 Billion Outflows

U.S. Spot Ether ETFs Witness Major Changes with Significant Outflows from Grayscale and Positive Inflows for Others

U.S. Spot Ether ETFs See Major Shifts – On August 2, spot Ether exchange-traded funds (ETFs) in the United States experienced notable movements, with the Grayscale Ethereum Trust (ETHE) facing substantial outflows. According to data from SoSoValue, ETHE’s outflows reached $2.1 billion. The total net outflows from all spot Ether ETFs exceeded $54 million on the same day. Notably, ETHE alone saw a net outflow of over $61 million within a single day.

ETHE’s Significant Outflows

ETHE, a leading player in the market, has been providing investors with Ethereum exposure without requiring direct purchase or storage since 2017. Despite its prominent role, ETHE has experienced substantial outflows recently. In contrast, other spot Ether ETFs are showing varied trends. The Grayscale Ethereum Mini Trust ETF (ETH) reported no outflows, maintaining its net inflows at $201 million.

Fidelity and Franklin Ethereum Funds Show Positive Inflows

The Fidelity Ethereum Fund (FETH) saw the highest net inflows, adding over $6 million yesterday. This increase brings FETH’s total net inflows to $297 million. The Franklin Ethereum ETF (EZET) also recorded positive movement, with single-day net inflows just over $1 million, elevating its cumulative net inflows to $30.6 million.

Current Market Dynamics

As of August 3, the total net asset value of spot Ether ETFs stands at $8.3 billion. The ETF net asset ratio, which compares the market value of Ether held in ETFs to the total market value of ETH, is currently at 2.29%. Since their market debut on July 23, cumulative net outflows from spot Ether ETFs have reached $511 million.

Positive Inflows on August 1

On August 1, spot Ether ETFs saw positive daily net inflows, totaling $26.7 million. The BlackRock iShares Ethereum Trust (ETHA) led this inflow with $89.6 million. At the time of publication, ETH is trading at $2,987, reflecting a decline of approximately 5.71% since the ETFs’ launch.

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