Ethereum (ETH) returns: Spot ETFs inspire confidence.
Spot ETH exchange-traded funds (ETFs) saw net inflows of $33.67 million on Tuesday, ending a four-day streak of negative flows.
Grayscale Ethereum Trust (ETHE) was the only spot ether ETF to record negative flows, with net outflows of $120.28 million, according to SosoValue data. The ETF has seen outflows every day since its launch on July 23. This was offset by inflows led by BlackRock’s ETHA, which recorded net inflows of $117.98 million. Fidelity’s FETH saw $16.36 million in flows into the fund, while Grayscale Ethereum Mini Trust recorded net inflows of $12.36 million.
Franklin’s EZET also reported net inflows of $3.73 million, and Bitwise’s ETHW recorded net inflows of $3.52 million. Three other spot ether ETFs saw zero inflows. Total daily trading volume for these spot ether products fell to $563.22 million on Tuesday, down from $773.01 million on Monday and $933.86 million on Friday.
Meanwhile, 11 spot bitcoin ETFs in the U.S. saw net outflows of $18.3 million on Tuesday after four days of positive flows, according to SosoValue data. BlackRock’s IBIT saw $74.87 million in flows into the fund, making it the only spot bitcoin ETF to record net inflows.
Grayscale’s GBTC saw the largest outflow among funds, with net outflows of $73.6 million. Ark and 21Shares’ ARKB followed with $7.88 million in net outflows, followed by VanEck HODL with $5.58 million, Bitwise BITB with $3.23 million, and Fidelity FBTC with $2.88 million.
Spot Bitcoin ETFs saw total daily trading volume of $1.37 billion on Tuesday, compared to $2.68 billion on Monday and $2.04 billion on Friday.