Source: cryptoslate
Compiled by: Blockchain Knight
According to Farside Investors, inflows into spot Ethereum ETFs have exceeded $2 billion in nearly four weeks, not including nearly $2.5 billion in outflows from Grayscale’s ETHE.
ETF Store CEO Nate Geraci stressed that if this cumulative value were considered an ETF, it would be equivalent to the fourth largest ETF launched to date.
The other three ETFs that have accumulated more value than the Ethereum ETF are all spot BTC ETFs: BlackRock’s IBIT, Fidelity’s FBTC, and ARK 21Shares’ ARKB.
“In itself, the iShares Ethereum ETF is close to being among the top 7 ETF launches,” Geraci added.
Eric Balchunas, senior ETF analyst at Bloomberg, shared that ETF global flows have reached $911 billion so far this year. The $17 billion in net flows registered by U.S.-traded spot crypto asset ETFs accounted for nearly 2% of the global total.
Notably, IBIT is the third-largest ETF by inflows, at nearly $20.5 billion. FBTC also ranks among the largest funds, with inflows approaching $10 billion.
Although the cumulative inflows of the spot Ethereum ETF have exceeded the $2 billion mark, its performance still lags behind that of the BTC ETF.
Analysts at Bitfinex attributed this to Ethereum’s overall weak performance over the past few weeks, with the Crypto asset down 40% over the past month.
Since the launch of the Ethereum ETF, Jump Crypto, Wintermute and Flow Traders have sold a total of 130,000 ETH.
In addition, Japan's recent sharp interest rate hikes have also shaken the macroeconomic landscape and curbed the market's risk appetite.
Aurelie Barthere, chief research analyst at Nansen, also said that the sell-off in the Crypto asset market in March caused huge realized losses, especially for traders involved in multiple Crypto asset narratives.
In addition, a second sell-off occurred between July and August, revealing a growing correlation with stocks. ETH was further pressured by solid but slowing U.S. economic growth and stretched valuations for traditional risk assets such as U.S. stocks.
