Significant Withdrawals from U.S. Spot Ethereum ETFs
On Wednesday, U.S.-based spot Ethereum exchange-traded funds (ETFs) faced notable outflows, with a total of $77.21 million being withdrawn. Among the funds, Grayscale’s Ethereum Trust (ETHE) experienced the most significant reduction, losing $133.33 million.
Grayscale Leads in Outflows, Others Neutral
The nine spot Ether ETFs had a combined trading volume of $472.5 million, but the net outflows reached $77.21 million. While some ETFs managed to stay neutral, such as Franklin Templeton’s EZET and Invesco’s QETH, Grayscale’s ETHE led the outflow tally.
Positive Inflows for Select ETFs
Despite the overall outflows, some ETFs reported positive inflows. Grayscale’s Mini Ethereum Trust (ETH) saw the highest net inflow of $19.54 million on July 31. Fidelity’s FETH followed with $18.8 million, and Blackrock’s ETHA gained $4.98 million. Other funds like Vaneck’s ETHV, Bitwise’s ETHW, and 21Shares’ CETH also reported modest inflows, collectively bringing in millions.
Cumulative Net Inflows Remain Negative
Since the trading of these ETFs began, they have only experienced two days of positive net inflows. As of now, the cumulative net inflows since July 23 stand at -$483.18 million. Grayscale’s ETHE is nearing $2 billion in total outflows, having divested $1.98 billion since it started public trading. Overall, the nine ETFs hold $9.08 billion in ETH, representing 2.34% of Ethereum’s market capitalization.
