🚨 Ethereum ETF Flows Flip Positive Despite Grayscale Outflows Topping $2B 🚨
Net inflows into United States spot Ether exchange-traded funds (ETFs) have turned positive again, despite cumulative outflows from Grayscale’s Ethereum Trust (ETHE) breaching $2 billion.
On August 1, the roster of eight recently approved spot ETFs posted a net inflow of $28.5 million, led by a $91.4 million inflow into BlackRock’s iShares Ethereum Trust (ETHA), according to FarSide Investors data.
Ethereum ETFs recorded a $26.7 million net inflow on the same day, showcasing renewed interest in the digital asset. In contrast, Grayscale’s Ethereum Trust saw outflows of $78 million on August 1, bringing the cumulative outflows from the fund to just over $2 billion since its conversion to a spot fund.
Unlike the other eight spot ETH ETFs launched as new funds on July 23, ETHE was previously a trust offering institutional investors exposure to ETH and was converted to a spot ETF on the same date. Before its conversion, ETHE held a total of $9 billion in Ether. The recent outflow means that 22% of the initial fund has been sold.
Several analysts predict that the gradually slowing outflows from Grayscale’s fund could mark a turning point for the price of Ether.
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