According to CoinDesk, Ether (ETH) exchange-traded funds (ETFs) have recorded positive cumulative flows for the first time since their launch in July, following five consecutive days of net inflows. The cumulative flows of these funds have reached $94.62 million, marking a significant milestone. On Tuesday, the nine spot ether ETFs listed in the U.S. saw inflows just under $136 million, bringing the total since November 6 to approximately $650 million, as per data from SoSoValue.
The only previous instance of positive cumulative inflows was on July 23, when the first day of trading resulted in a net investment of $106.8 million. However, the ether ETFs did not experience the same enthusiastic reception as bitcoin ETFs did earlier in January. Grayscale's Ethereum Trust (ETHE), which had over $8 billion in assets at the time of listing, began to see outflows that were not balanced by inflows into other funds.
Several factors have been suggested for the tepid response to ether ETFs, including the absence of staking provisions and the relatively subdued price movement of ETH amid the broader crypto bull market. Over the past year, Ether has increased by about 55%, while Bitcoin (BTC) and Solana (SOL) have surged by approximately 141% and 305%, respectively, according to CoinDesk Indices data.
