Oct Logo
Search Icon
Oct Logo
Search Icon
Bitcoin iconETH
$0000
arrow icon0.61%
U.S. Spot Ethereum ETFs See $77.21M Outflow in a Single Day

U.S. Spot Ethereum ETFs See $77.21M Outflow in a Single Day

U.S. spot Ethereum ETFs experienced $77.21 million in outflows on Wednesday, with Grayscale’s ETHE leading the reduction.

Image of Tanishq BodhTanishq BodhNews

Aug 1, 2024

Image of Tanishq Bodh

Tanishq Bodh

Significant Withdrawals from U.S. Spot Ethereum ETFs

On Wednesday, U.S.-based spot Ethereum exchange-traded funds (ETFs) faced notable outflows, with a total of $77.21 million being withdrawn. Among the funds, Grayscale’s Ethereum Trust (ETHE) experienced the most significant reduction, losing $133.33 million.

Grayscale Leads in Outflows, Others Neutral

The nine spot Ether ETFs had a combined trading volume of $472.5 million, but the net outflows reached $77.21 million. While some ETFs managed to stay neutral, such as Franklin Templeton’s EZET and Invesco’s QETH, Grayscale’s ETHE led the outflow tally.

Positive Inflows for Select ETFs

Despite the overall outflows, some ETFs reported positive inflows. Grayscale’s Mini Ethereum Trust (ETH) saw the highest net inflow of $19.54 million on July 31. Fidelity’s FETH followed with $18.8 million, and Blackrock’s ETHA gained $4.98 million. Other funds like Vaneck’s ETHV, Bitwise’s ETHW, and 21Shares’ CETH also reported modest inflows, collectively bringing in millions.

Cumulative Net Inflows Remain Negative

Since the trading of these ETFs began, they have only experienced two days of positive net inflows. As of now, the cumulative net inflows since July 23 stand at -$483.18 million. Grayscale’s ETHE is nearing $2 billion in total outflows, having divested $1.98 billion since it started public trading. Overall, the nine ETFs hold $9.08 billion in ETH, representing 2.34% of Ethereum’s market capitalization.

Trusted

Our Crypto Talk is committed to unbiased, transparent, and true reporting to the best of our knowledge. This news article aims to provide accurate information in a timely manner. However, we advise the readers to verify facts independently and consult a professional before making any decisions based on the content since our sources could be wrong too. Check our Terms and conditions for more info.

In this article

Significant Withdrawals from U.S. Spot Ethereum ETFs

Grayscale Leads in Outflows, Others Neutral

Positive Inflows for Select ETFs

Cumulative Net Inflows Remain Negative

Hero Image
Share with your community!
FacebookXLinkedIn
Fetching related reads...
Hero Image
Share with your community!
FacebookXLinkedIn
Fetching related reads...

Fetching related reads