Key Takeaways
- Grayscale's Ethereum ETF experienced its lowest daily outflow.
- Despite mixed performance, the nine ETFs collectively saw net inflows of $98 million on Wednesday.
Around $40 million exited the Grayscale Ethereum Trust (NYSE:ETHE), now trading as an exchange-traded fund (ETF) on August 6, according to data from Farside Investors. This marks the lowest daily outflow since its conversion from a trust last month.
US spot Ethereum ETF saw positive flows on August 6
The daily pace of outflows from the fund, operating under the ETHE ticker, hit a peak of $484 million on its debut date. ETHE outflows topped $1.5 billion after the first week of trading.
However, the pace of exits has cooled since the start of this week. On Monday, ETHE reported over $61 million in net outflows, followed by approximately $47 million drained on Tuesday. With the new outflows reported on Wednesday, the total ETHE outflows have exceeded $147 million so far this week.
Previously, analyst Mads Eberhardts anticipated a slowdown in ETHE outflows this week. He also suggested a potential price increase after outflows stabilized.
US spot Ethereum ETFs are experiencing a mixed trend due to slower inflows into the majority of funds. BlackRock’s iShares Ethereum Trust (NASDAQ:ETHA) has been the most successful among others in the group. The ETF ended Wednesday with almost $110 million in net inflows, bringing the total to nearly $870 million since its launch.
Overall, the nine funds took in a net $98 million in cash on Wednesday. Fidelity’s Ethereum (NYSE:FETH) fund followed BlackRock with $22.5 million in inflows.
Other gains were also seen in Grayscale’s Ethereum Mini Trust (NYSE:ETH) and Franklin Templeton’s Ethereum ETF (NYSE:EZET).