Franklin

Spot

BlackRock

<p>U.S. spot Ether exchange-traded funds (ETFs) saw a net inflow of $33.7 million on July 30, 2024 giving investors a reason to smile. This inflow ended a worrying four-day period of negative cash flows.</p> 
<p>This turnaround, boosted by big investments in top funds, suggests a possible change in how the market feels after weeks of money leaving these funds.</p> 
<h2 class="wp-block-heading" id="h-grayscale-keeps-losing-money-in-ether-etf-flows"><strong>Grayscale Keeps Losing Money in Ether ETF Flows</strong></h2> 
<p>The recent inflows follow a rough patch for Grayscale’s Ethereum Trust (ETHE). Since it started on July 23, ETHE has seen massive outflows adding up to about $1.8 billion. On July 30, the fund lost $120.3 million in net outflow keeping up a gloomy pattern. It has lost money every day since its launch putting more strain on its assets under management which have dropped from over $9 billion to around $6.8 billion.</p> 
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   <p lang="en" dir="ltr">FIRST ETH ETF INFLOWS SINCE INCEPTION <br><br>That was fast. <a href="https://t.co/eSAjP3mah7">https://t.co/eSAjP3mah7</a></p>— Zaheer (@SplitCapital) <a href="https://twitter.com/SplitCapital/status/1818464454448705625?ref_src=twsrc%5Etfw">July 31, 2024</a>
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<p>On the flip side, BlackRock’s iShares Ethereum Trust (ETHA) showed its growing strength in the ETF scene topping the inflows at $118 million that day. BlackRock offered a low management fee of 0.12% for the first $2.5 billion of the fund putting itself in a good spot against rivals. Together with other funds, BlackRock now controls a big chunk of the Ether ETF market.</p> 
<p>Fidelity’s Ethereum Fund (FETH) had a positive impact too pulling in $16.4 million. The Grayscale Ethereum Mini Trust, with its lower fees, stood out by drawing $12.4 million in net inflows. Other smaller ETF providers also added to the trend. Franklin Templeton’s EZET brought in $3.7 million, while Bitwise’s ETHW attracted $3.5 million.</p> 
<h2 class="wp-block-heading" id="h-changing-spot-etfs-trading-volumes"><strong>Changing Spot ETFs Trading Volumes</strong></h2> 
<p><a href="https://farside.co.uk/?p=1518">Farside Investors</a>&nbsp;reports that spot Ether ETFs saw $563.22 million in daily trading on July 30. This shows a drop from the day before when trading hit $773.01 million. The contrast becomes even clearer when you look at the ETFs’ first day, which saw&nbsp;<a href="https://www.thecoinrepublic.com/2024/07/26/ethereum-hits-yearly-high-in-institutional-activity-post-etf-analysts-reflect-on-eth-price/">$1.11 billion in trades</a>.</p> 
<p>Bitcoin ETFs had a tough time, which was a stark contrast to the&nbsp;<a href="https://www.thecoinrepublic.com/2024/07/30/are-new-ethereum-etfs-surpassing-old-giants-in-investor-appeal/">comeback in Ethereum flows</a>. That same day, the 11 spot Bitcoin ETFs together saw $18.3 million leave, a change from their earlier run of money coming in. BlackRock’s IBIT managed inflows, getting $74.87 million after big outflows from rivals like Grayscale’s GBTC, which lost $73.6 million on July 30.</p> 
<p>U.S. spot Ether ETFs hit the market on July 23 causing an immediate 9% drop in price. As of now, Ether has fallen over 4% since these ETFs came out. Though other things might also be playing a part in how it’s doing.</p> 
<p>Grayscale’s Ethereum Trust (ETHE) has experienced quicker outflows than its Bitcoin Trust since spot Bitcoin ETFs launched in January. Overall, as of July 30th, ETF inflows are now negative at $405.97 million according to&nbsp;<em>SoSoValue</em>. Grayscale’s ETHE facing heavy selling pressure. On the other hand other big spot Ether ETFs, like BlackRock, Bitwise, and Fidelity, have seen positive daily inflows.</p> 
<figure class="wp-block-image size-large">
 <img loading="lazy" decoding="async" width="1024" height="349" src="https://www.thecoinrepublic.com/wp-content/uploads/2024/07/Screenshot-2024-07-31-at-8.41.44 PM-1024x349.png" alt="US ETH spot ETF Tracker. Source: SoSoValue" class="wp-image-635647" srcset="https://www.thecoinrepublic.com/wp-content/uploads/2024/07/Screenshot-2024-07-31-at-8.41.44 PM-1024x349.png 1024w, https://www.thecoinrepublic.com/wp-content/uploads/2024/07/Screenshot-2024-07-31-at-8.41.44 PM-300x102.png 300w, https://www.thecoinrepublic.com/wp-content/uploads/2024/07/Screenshot-2024-07-31-at-8.41.44 PM-768x262.png 768w, https://www.thecoinrepublic.com/wp-content/uploads/2024/07/Screenshot-2024-07-31-at-8.41.44 PM-1536x523.png 1536w, https://www.thecoinrepublic.com/wp-content/uploads/2024/07/Screenshot-2024-07-31-at-8.41.44 PM-2048x698.png 2048w, https://www.thecoinrepublic.com/wp-content/uploads/2024/07/Screenshot-2024-07-31-at-8.41.44 PM-150x51.png 150w, https://www.thecoinrepublic.com/wp-content/uploads/2024/07/Screenshot-2024-07-31-at-8.41.44 PM-696x237.png 696w, https://www.thecoinrepublic.com/wp-content/uploads/2024/07/Screenshot-2024-07-31-at-8.41.44 PM-1068x364.png 1068w, https://www.thecoinrepublic.com/wp-content/uploads/2024/07/Screenshot-2024-07-31-at-8.41.44 PM-1920x654.png 1920w" sizes="(max-width: 1024px) 100vw, 1024px">
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  <em>US ETH spot ETF Tracker. Source: SoSoValue</em>
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<p>Still, analysts predict a potential stabilizing trend as outflows from ETHE may abate in the near future, a sentiment&nbsp;<a href="https://x.com/MadsEberhardt/status/1817846559825965497">echoed</a>by Steno Research’s senior analyst, Mads Eberhardt.</p> 
<p>The post <a href="https://www.thecoinrepublic.com/2024/07/31/spot-ether-etfs-post-33-7m-inflows-ending-recent-negative-streak/">Spot Ether ETFs Post $33.7M Inflows, Ending Recent Negative Streak</a> appeared first on <a href="https://www.thecoinrepublic.com">The Coin Republic</a>.</p>

Spot Ether ETFs Post $33.7M Inflows, Ending Recent Negative Streak

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