US Ethereum spot ETFs see $133 million outflows one day after strong debut
Key Takeaways
- Spot Ethereum ETF flows turned negative on the second day.
- Fidelity's Ethereum Fund outperformed BlackRock's Ethereum ETF, which led the first day with over $266 million.
US spot Ethereum exchange-traded funds (ETFs) have seen a decline in net inflows after a strong start with almost $107 million. According to data from Farside Investors, investors withdrew around $133 million from these products on the second day of trading.
Fidelity’s Ethereum Fund (FETH) outpaced BlackRock’s iShares Ethereum Trust (ETHA) to become the day’s leader with $74.5 million in net inflows. Meanwhile, BlackRock’s fund took in nearly $17.5 million on Wednesday.
Source: Farside Investors
On the first day of trading, ETHA led the pack with over $266 million. ETHA’s flows and additional inflows from seven other Ethereum ETFs managed to offset massive outflows from Grayscale’s Ethereum ETF (ETHE) on its debut day.
However, a similar dynamic did not play out on the second day. Grayscale’s ETHE bled nearly $327 million, bringing the total outflows to $811 million since the fund’s conversion. After the second trading day, ETHE’s assets under management dropped to $8.3 billion , down from $9 billion prior to the debut of spot Ethereum ETFs.
In contrast, the Grayscale Ethereum Mini Trust (ETH), a spinoff of Grayscale’s ETHE, recorded approximately $46 million in inflows. The fund is among the lowest-cost spot Ethereum products in the US market.
Bitwise’s Ethereum ETF (ETHW) witnessed over $29 million in net inflows, while VanEck’s Ethereum ETF (ETHV) reported $20 million. Other gains were also seen in Franklin’s EZET and Invesco/Galaxy’s QETH.
21Shares’s Core Ethereum ETF (CETH) saw zero flows.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
After the "bloodbath" in tech stocks, Anthropic IPO faces a crisis: Is it still worth $1.5 trillion? Should it go public at this moment?
As $2.5 trillion was wiped out from tech stocks in a single day, the IPO plans of AI star Anthropic are on shaky ground. Three major investors have explicitly questioned the $1.5 trillion target valuation, with some parties believing its actual value is closer to $1 trillion. Doubts have also emerged over whether the November roadshow will proceed as planned. Ongoing losses, missing key revenue data, and sudden shifts in AI policy—all add up to multiple headwinds, causing this listing, once poised to set the record for the largest IPO in history, to now face three tough choices: a discounted valuation, a reduced offering, or outright postponement.
Data centers are just a "bonus" - Bernstein provides a detailed explanation of GE Vernova (GEV.US) long-term growth logic
Bernstein has released a research report, reiterating its "Outperform" rating on GE Vernova (GEV.US) and setting a target price of $1,298, which is 69% higher than the latest closing price.
Investment Tycoon Nobul Warns: Cycle Financing Plants Seeds for Collapse, Nvidia (NVDA.US) May Repeat Cisco's Mistake
Noble issued a warning on Thursday, stating that Nvidia is heading toward a liquidation-style crisis similar to the internet bubble, as the company is providing financial support to customers purchasing its artificial intelligence (AI) hardware.
Crypto prices
More
