Nine U.S. spot Ethereum exchange-traded funds (ETFs) faced significant outflows totaling $98.29 million on Monday, marking the fourth consecutive day of negative flows for these products.
Among these, the Grayscale Ethereum Trust (ETHE) stood out with substantial outflows amounting to $210.04 million, continuing a trend of daily outflows since its recent debut last Tuesday.
In contrast, BlackRock’s ETHA led the pack with $58.17 million in net inflows, followed by Fidelity FETH with $24.82 million, VanEck ETHV with $10.91 million, and Bitwise ETHW with $10.45 million.The Grayscale Ethereum Mini Trust recorded $4.9 million in net inflows, while Franklin’s EZET saw $2.52 million in inflows. Invesco and 21Shares’ spot ether ETFs saw zero flows on Monday.
Total daily trading volume for spot ether ETFs amounted to $773.01 million, down from $933.86 million on Friday and $955.85 million on Thursday.In contrast to Ethereum, U.S. spot bitcoin ETFs experienced a different trend, with $124.13 million in net inflows on Monday. BlackRock’s IBIT led with $205.62 million in net inflows, while Grayscale GBTC recorded $54.29 million in net outflows. Bitwise’s BITB saw $21.3 million outflows, and Fidelity’s FBTC recorded $5.89 million in net outflows.
The total trading volume for spot bitcoin ETFs was higher at $2.68 billion on Monday, compared to $2.04 billion on Friday and $1.51 billion on Thursday.These flows indicate diverging investor sentiments between Ethereum and Bitcoin ETFs in the U.S. market, with Ethereum facing continued outflows while Bitcoin sees renewed interest and higher trading volumes.
July 2024, Cryptoniteuae
