Ethereum Investments Fall Below Expectations, Three-Day Trend Deteriorated
The three-day positive trend seen in spot Ethereum exchange-traded funds (ETFs) in the US has come to an end.
According to SosoValue data, $39.21 million worth of net money went out of spot Ethereum ETFs in the US yesterday.
Investments fell short of expectations
The only fund that experienced an outflow was Grayscale Ethereum Trust (ETHE). $42.52 million worth of money went out of ETHE. Grayscale Ethereum Mini Trust, on the other hand, did not experience any movement yesterday after Wednesday's $2.26 million investment.
Fidelity's FETH fund recorded a net inflow of $2.54 million, while BlackRock's ETHA fund saw an inflow of $770,350. There was no movement in the remaining ETFs.
The total daily trading volume of nine ETFs on Thursday was recorded as $240.58 million. In comparison, volume was $155.91 million on Wednesday and $190.76 million on Tuesday.
What about Bitcoin funds?
Spot Bitcoin ETFs in the US took in $11.11 million yesterday, following an outflow of $81.36 million on Wednesday.
BlackRockâs IBIT fund, the largest spot Bitcoin ETF in terms of net assets, recorded no inflows on Thursday, following a net inflow of $2.68 million on Wednesday and $34.55 million on Tuesday.
Grayscaleâs GBTC fund was the only ETF to report negative inflows, with $25.03 million, marking the fundâs 11th consecutive day of outflows.
Fidelityâs FBTC fund recorded the largest inflow of the day, with $16.25 million, while Grayscale Mini Trust saw a net inflow of $13.66 million and Bitwiseâs BITB fund saw an inflow of $6.23 million.
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