Ethereum

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For the first time since early August, United States spot Ethereum Exchange-traded Funds (ETFs) have hit their highest weekly inflows. Precisely, these products recorded $58.7 million worth of inflows on Friday, based on data from SoSoValue. Altogether, the net inflows from the week summed up to $84.5 million. 
The inflow was contributed from three out of the five trading days in the week. This net weekly inflow marks a huge reveal from the six-week streak of massive outflows from the <a href="https://thecoinrise.com/five-ethereum-etfs-to-begin-trading-on-cboe-on-july-23/">two-month-old offerings</a>. This was in addition to BlackRock’s spot Ethereum ETF ETHA hitting a significant milestone of more than $1 billion in net asset value.&nbsp; 
<h2 id="b-spot-ethereum-etf-inflows-trumps-outflow-b">Spot Ethereum ETF Inflows Trumps Outflow</h2> 
The Friday inflow was led by the FETH fund, Fidelity Investment’s spot Ethereum ETF. The fund registered $42.5 million in inflows and was seconded by <a href="https://thecoinrise.com/blackrock-etf-sees-record-bitcoin-and-ethereum-inflows/">BlackRock’s ETHA fund</a>, with $11.5 million worth of inflows. Similarly, Bitwise’s ETHW saw inflows of $5.4 million, Invesco’s QETH $4.3 million, Grayscale’s ETH $2.3 million, VanEck’s ETHV $2.0 million, and 21Shares’ CETH registered $1.4 million.&nbsp; 
Apart from Grayscale’s ETHE which saw $10.7 million worth of outflow, the next odd one in the pod was Franklin’s EZET, which saw no net inflow or outflow.&nbsp; 
<h2 id="b-blackrock-s-etha-celebrates-1-bln-net-asset-value-b">BlackRock’s ETHA Celebrates $1 Bln Net Asset Value&nbsp;</h2> 
Though second to FETH, ETHA still has its $1 billion total net asset value to celebrate. Grayscale’s Ethereum Mini Trust had achieved this milestone earlier. With this achievement, ETF Store president Nate Geraci noted that BlackRock’s spot Ethereum ETF now ranks amongst the top 20% of the more than 3,700 ETFs available on the US market.&nbsp; 
Generally, the US spot Ethereum ETFs hold a total net asset value of $7.4 billion. This is the highest such value that the sector has registered since August 26.&nbsp; 
<h2 id="b-spot-bitcoin-etfs-records-inflows-b">Spot Bitcoin ETFs Records Inflows&nbsp;</h2> 
Spot Bitcoin ETFs have been buzzing with activities in the last few days, especially after the Federal Reserve announced the 50-basis-point rate cut on September 18. On September 27, the product recorded $495 million in&nbsp;inflows, reflecting the increasing demand for the offering amongst institutional investors. By the end of the week, the <a href="https://thecoinrise.com/bitcoin-etfs-soar-past-1b-weekly-inflows-amid-institutional-rush/">total inflows had&nbsp;surged&nbsp;to over $1 billion</a>. 
Ark Invest’s ARKB led the pack with $203 million on Friday. Fidelity’s FBTC followed with $123 million in inflows, while BlackRock’s IBIT secured $111.7 million. According to data from Farside Investors, these three ETF giants collectively pulled 6,661 Bitcoins from the market in a single day. 
The post <a href="https://thecoinrise.com/us-spot-ethereum-etf-rise-above-six-weeks-outflow-streak/">US Spot Ethereum ETFs Rise Above Six Weeks Outflow Streak</a> appeared first on <a href="https://thecoinrise.com/">TheCoinrise.com</a>.

US Spot Ethereum ETFs Rise Above Six Weeks Outflow Streak

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