Ethereum

2024

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Spot Ethereum exchange-traded funds have recorded an immediate net outflow on their second day of trading in the United States.
According to <a href="https://farside.co.uk/?p=1518" target="_blank" rel="noopener noreferrer nofollow">data</a> provided by Farside Investors, spot Ethereum (<a href="https://crypto.news/price/ethereum/" target="_blank" rel="noopener noreferrer nofollow">ETH</a>) ETFs witnessed a net outflow of $133.3 million on Wednesday, July 24. Notably, only the Grayscale Ethereum Trust (ETHE) saw an outflow of $326.9 million.&nbsp;
On their first trading day, spot ETH ETFs <a href="https://crypto.news/eth-etfs-see-over-1b-of-trading-volume-on-launch-day/" target="_blank" rel="noopener noreferrer nofollow">recorded</a> over $1 billion in trading volume with $106.6 million in net inflows.
Data from Farside Investors shows that the total outflow from the ETHE fund has already reached $811 million over the past two days. The Grayscale Ethereum Mini Trust (ETH), on the other hand, saw $45.9 million and $15.1 million on July 24 and 23, respectively.&nbsp;
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Most of the inflows came from the Fidelity Advantage Ether ETF (FETH), worth $74.5 million.&nbsp;
Moreover, the WisdomTree Physical Ethereum Securities ETP (ETHW) and the VanEck Ethereum ETF (ETHV) registered $29.6 million and $19.8 million in inflows, respectively.
<a href="https://crypto.news/tag/blackrock/" target="_blank" rel="noopener noreferrer nofollow">BlackRock</a>’s iShares Ethereum Trust ETF (ETHA) saw $17.4 million in inflows yesterday, per Farside Investors. The investment product’s inflows reached $266.5 million on July 23.
Franklin Ethereum ETF Fund (EZET) and Invesco’s Ether Fund (QETH) had smaller shares of the net inflows, each worth $3.9 million and $2.5 million. 21Shares Core Ethereum ETF (CETH) remained neutral as the market moved back into bearish momentum.
Following the significant net outflows from <a href="https://crypto.news/ethereum-etfs-potential-inflows-and-ethereum-price-impact-analysis/" target="_blank" rel="noopener noreferrer nofollow">Ethereum ETFs</a>, the Ethereum price plunged by 7.6% over the past 24 hours. The second-largest cryptocurrency is trading at $3,180 at the time of writing. ETH’s market cap is currently hovering at $382 billion with a daily trading volume of $21.3 billion.
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 ETH price – July 25 | Source: <a href="https://crypto.news/price/ethereum/" target="_blank" rel="noopener noreferrer nofollow">Trading View</a>
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It’s important to note that the broader crypto market is also wandering in the bearish zone. According to <a href="https://www.coingecko.com/en/global-charts" target="_blank" rel="noopener noreferrer nofollow">data</a> from CoinGecko, the global cryptocurrency market capitalization declined by 3.4% over the past day and is currently sitting at $2.43 trillion.
Read more: <a href="https://crypto.news/monoswap-suffers-hack-urges-users-to-withdraw-funds/" rel="noopener noreferrer nofollow"> MonoSwap suffers hack, urges users to withdraw funds </a>

Spot Ethereum ETFs saw $133m outflow on second trading day

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