According to U.Today, Ethereum spot ETFs have begun to sustain positive momentum following several days of stagnant growth. Initially, these ETFs experienced a significant inflow on their launch day, followed by four consecutive days of outflows, primarily due to Grayscale’s ETHE, which continues to see outflows. This trend was also observed with Grayscale’s Bitcoin ETF. However, other Ethereum ETFs are now gaining investor interest and confidence.
As reported by SosoValue, Ethereum spot ETFs saw a total net inflow of approximately $98 million on August 6, marking the second consecutive day of inflows after recording nearly $48 million on August 5. This development is crucial as it comes at a time when the market is recovering from a recent crypto crash, providing a much-needed boost to the community that was previously discouraged by consistent outflows.
On August 6, Grayscale’s ETHE experienced an outflow of nearly $39 million, with cumulative net outflows now standing at $2.2 billion. In contrast, Grayscale’s newly launched ETF, named ETH, saw $4.7 million in inflows, bringing its cumulative net inflows to about $213 million. The best-performing Ethereum ETF is BlackRock’s ETHA, which recorded an inflow of approximately $110 million on the same day, with cumulative net inflows now at nearly $869 million, making it the most sought-after Ethereum spot ETF in the market. Meanwhile, Fidelity’s FETH saw an inflow of almost $22 million, with cumulative net inflows of about $335 million.
Overall, the total net asset value of these ETFs stands at $7.06 billion, representing about 2.36% of the total Ethereum market capitalization. This indicates that these newly launched ETFs are starting to capture the market with their performance. The resurgence of Ethereum ETFs is seen as a bullish signal, reflecting rising investor interest in the asset.
