Ethereum

United

BlackRock

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    <p>The debut of Ethereum exchange-traded funds (ETFs) in the United States marked a notable milestone, with these newly launched funds attracting a net inflow of $106.6 million on their first day of trading. This impressive figure was achieved despite significant outflows from Grayscale’s recently converted Ethereum Trust.</p> 
    <p>Leading the charge were ETFs from BlackRock and Bitwise, with BlackRock’s iShares ETF (ETHA) posting $266.5 million in net inflows and Bitwise’s Ethereum ETF (ETHW) following closely with $204 million. Fidelity’s Ethereum Fund (FETH) secured the third position with $71.3 million in net inflows.</p> 
    <p><img decoding="async" src="https://s3.cointelegraph.com/uploads/2024-07/daf93845-b87b-49fd-8042-a7111f96c93e.png" alt="daf93845 b87b 49fd 8042 a7111f96c93e" title="Ethereum ETFs Attract $107m in Inflows on First Day Amid Grayscale Outflows 6"></p> 
    <p>These inflows were sufficient to counterbalance the outflows from Grayscale Ethereum Trust (ETHE), which experienced a withdrawal of $484.9 million on the same day. This outflow represents approximately 5% of the fund, which was once valued at $9 billion.</p> 
    <p>Launched in 2017, ETHE allowed institutional investors to purchase Ethereum (ETH) with a six-month lock-up period on investments. The recent conversion to a spot ETF has facilitated easier share selling for investors, potentially explaining the significant day-one outflows.</p> 
    <p>A similar trend was observed in January when spot Bitcoin ETFs launched. Grayscale’s Bitcoin Trust (GBTC) saw over $17.5 billion in outflows following the introduction of 11 spot BTC funds.</p> 
    <p>In contrast, Grayscale’s Ethereum Mini Trust, a lower-fee spinoff product, reported $15.2 million in new inflows. Franklin Templeton’s fund (EZET) recorded $13.2 million, while 21Shares’ Core Ethereum ETF (CETH) saw $7.4 million in inflows.</p> 
    <p><img decoding="async" src="https://s3.cointelegraph.com/uploads/2024-07/c72b2bc6-6d6d-475c-a02c-f3e44e9dd5ed.jpeg" alt="c72b2bc6 6d6d 475c a02c f3e44e9dd5ed" title="Ethereum ETFs Attract $107m in Inflows on First Day Amid Grayscale Outflows 7"></p> 
    <p>Collectively, the spot Ether funds generated $1.08 billion in cumulative trading volume on their first day, amounting to 23% of the volume witnessed during the debut of spot Bitcoin ETFs.</p> 
    <p>Despite the positive inflows, the price of Ethereum experienced a slight decline. <a href="https://crypto.ro/en/cryptocurrencies/ethereum/">ETH</a> was trading at $3,451 at the time of publication, reflecting a 1.4% decrease over the last 24 hours and a 1.5% drop over the past week, according to <a href="https://coinmarketcap.com/currencies/ethereum/" rel="nofollow noopener" target="_blank">CoinMarketCap</a> data.</p> 
    <p><img decoding="async" class="size-full wp-image-46680 alignnone" src="https://crypto.ro/en/wp-content/uploads/2024/07/ETH_1D_graph_coinmarketcap.png" alt="ETH 1D graph coinmarketcap" width="1200" height="800" title="Ethereum ETFs Attract $107m in Inflows on First Day Amid Grayscale Outflows 8" srcset="https://crypto.ro/en/wp-content/uploads/2024/07/ETH_1D_graph_coinmarketcap.png 1200w, https://crypto.ro/en/wp-content/uploads/2024/07/ETH_1D_graph_coinmarketcap-300x200.png 300w, https://crypto.ro/en/wp-content/uploads/2024/07/ETH_1D_graph_coinmarketcap-1024x683.png 1024w, https://crypto.ro/en/wp-content/uploads/2024/07/ETH_1D_graph_coinmarketcap-768x512.png 768w, https://crypto.ro/en/wp-content/uploads/2024/07/ETH_1D_graph_coinmarketcap-750x500.png 750w, https://crypto.ro/en/wp-content/uploads/2024/07/ETH_1D_graph_coinmarketcap-1140x760.png 1140w" sizes="(max-width: 1200px) 100vw, 1200px"></p> 
    <p>The introduction of Ether ETFs received final approval from the U.S. Securities and Exchange Commission (SEC) on July 22, with trading commencing on July 23.</p> 
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Ethereum ETFs Attract $107m in Inflows on First Day Amid Grayscale Outflows

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