Ethereum Spot ETFs Surpass $4 Billion in Net Inflows Amid Market Uncertainty

Ethereum Spot ETFs Gain Momentum with $100M Inflows on June 23

Ethereum Spot ETFs– U.S. spot Ethereum exchange-traded funds (ETFs) have crossed a significant milestone by exceeding $4 billion in cumulative net inflows since their launch on July 23, 2024, according to data from The Block. This achievement comes just eleven months after their debut, highlighting strong investor interest despite ongoing geopolitical tensions in the Middle East.

On June 23, Ethereum ETFs saw a combined daily inflow of $100.7 million, marking the highest daily addition in a week. Fidelity’s FETH fund led the inflows with $60.5 million, surpassing BlackRock’s typically dominant ETHA fund, which added $25.8 million. Grayscale’s ETHE and ETH products contributed $9 million and $5.4 million, respectively, while other funds recorded no inflows that day.

However, it is important to note that Grayscale’s higher-fee ETHE fund has experienced substantial net outflows totaling $4.3 billion since its conversion. Without these outflows, the cumulative net inflows for Ethereum ETFs would have reached $8.3 billion. As a result, Grayscale’s ETHE market share has dropped from 89.7% at launch to 30.2%, partly due to investors shifting assets to Grayscale’s mini ETH product. Meanwhile, BlackRock’s ETHA now leads the market with a 31.8% share as of June 23, followed by Fidelity’s FETH at 18% and Grayscale’s ETH at 15.5%.

Nate Geraci, president of The ETF Store, commented on the milestone, stating: “Spot Ethereum ETFs just surpassed $4 billion in cumulative inflows since launch. Includes $4.3 billion outflows from ETHE unlock. Seems pretty successful to me.” He also recalled initial skepticism about the potential growth of spot Bitcoin ETFs, noting how expectations have shifted over time.

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In comparison, U.S. spot Bitcoin ETFs have seen much higher inflows, reaching $34.7 billion in their first 11 months since January 2024. Currently, their cumulative inflows stand at $47.3 billion. On June 23, Bitcoin ETFs attracted $350.8 million in net inflows, led by BlackRock’s IBIT fund, continuing a 10-day streak of positive inflows totaling $2.8 billion.

Disclaimer: This article is for informational purposes only and does not constitute investment advice. Cryptocurrencies and stocks, particularly in micro-cap companies, are subject to significant volatility and risk. Please conduct thorough research before making any investment decisions.