Ethereum

Franklin

United

On August 2, United States-based spot Ether exchange-traded funds (ETFs) experienced notable movements, with Grayscale Ethereum Trust (ETHE) seeing significant outflows amounting to $2.1 billion.
Data from SoSoValue indicates that total net outflows from spot Ether ETFs exceeded $54 million on that day. ETHE was a major contributor to this, with a single-day net outflow of over $61 million.
Since 2017, Grayscale’s Ethereum Trust ETF has provided investors with exposure to Ethereum without the need to directly purchase and store the cryptocurrency. However, it faced substantial outflows recently.
“Ethereum ETFs posted a $54.27 million net outflow on Aug. 2,” according to SoSoValue.
While ETHE experienced significant outflows, other spot Ether ETFs showed varying trends. The Grayscale Ethereum Mini Trust ETF (ETH) reported no outflows, maintaining its net inflows at $201 million.
The Fidelity Ethereum Fund (FETH) saw the most significant net inflows on August 2, with over $6 million added, bringing its total net inflows to $297 million. Similarly, the Franklin Ethereum ETF (EZET) experienced positive inflows, with single-day net inflows of just over $1 million, increasing its cumulative net inflows to $30.6 million.
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 the 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.
On August 1, however, daily net inflows to spot Ether ETFs were positive. They posted a net inflow of $26.7 million, led by a $89.6 million inflow into BlackRock’s iShares Ethereum Trust (ETHA).

Grayscale Ethereum Trust Experiences $2.1 Billion of Outflows After Launch of ETH ETFs

Crypto Intelligence

Other articles published on Aug 4, 2024

Can XRP weather the harsh market with a surge? Key indicators show…

New Solana Memecoin Trump vs SEC Will Skyrocket Over 19,000% Before Exchange Listings, While SHIB...

Top Crypto Staking Platform: A Guide to Choose the Correct Path of Crypto Staking

Dogecoin Core 1.14.8 Update Nears: Major Progress in Reproducibility

Unusual Trading Volume Booms in 5 Altcoins in South Korea

Ethereum price clings ‘crucial area,’ drop below $2.8K looming

Join our free newsletter for daily crypto updates!