Ether ETF weekly flow hits positive for the 1st time since the launch
The newly announced nine spot Ether ETFs saw a positive overall net inflow of $105 million in the week beginning August 5. Spot Ethereum exchange-traded funds in the United States experienced their first week of positive net inflows since their inception on July 23.
According to ETF tracker SoSoValue, the nine recently launched US spot Ether ETFs saw a positive overall net inflow of $104.8 million in the week beginning August5. It also said that $1.9 billion in total value was traded, boosting total net assets to $7.3 billion as of August 9. The inflow occurred amid a massive price drop for the underlying asset, Ether ($2,563), which has fallen 23% since the beginning of August.
The BlackRock fund has already amassed almost $900 million in 13 trading days and has yet to see an outflow day. Its nearest rival, the Fidelity Ethereum Fund (FETH), received $44.65 million in inflows last week, bringing its total to $342 million.
Grayscale’s Mini Ethereum Trust (ETH) received $19.8 million in aggregate inflows last week, followed by the VanEck Ethereum ETF (ETHV) at $16.6 million, the Bitwise Ethereum ETF (ETHW) at $11.7 million, and the Franklin Ethereum ETF (EZET) at $3.7 million. The 21Shares Core Ethereum ETF (CETH) and the Invesco Galaxy Ethereum ETF (QETH) saw no flows during the time.
The total inflow for the nine would have been significantly larger if Grayscale’s Ethereum Trust (ETHE) had not lost $180 million in outflows this week. According to Farside Investors, the continuous outflow of assets from Grayscale’s spot Ethereum ETF, valued at $2.3 billion, has resulted in an overall outflow of $406.4 million for all nine funds.
Meanwhile, ETF issuers are looking to create option products for their spot ETH funds. On August 7, NYSE American LLC requested a rule change allowing it to offer and trade options contracts for three ETH ETFs from Grayscale and Bitwise.
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