Grayscale divestment leaves Ethereum spot ETF facing record outflows

The U.S. spot Ethereum (ETH) ETF has seen outflows for five consecutive days, while the spot Bitcoin (BTC) ETF has seen net inflows for the fifth consecutive day.

The U.S. spot Ethereum (ETH) ETF has seen outflows for five days in a row, while the spot Bitcoin (BTC) ETF has seen net inflows for the fifth day in a row. This is the ETH ETF’s longest period of outflows since its launch on July 23. Recent outflows totaled $92.2 million from August 15 to 21, significantly impacted by the Grayscale Ethereum Trust (ETHE), which had outflows of over $2.5 billion as of August 21 Dollar.

While Grayscale has experienced daily outflows, except for August 12, other ETFs such as BlackRock’s iShares Ethereum Trust ETF (ETHA), Fidelity Ethereum Fund (FETH), and Bitwise Ethereum ETF (ETHW) The inflow of funds will help mitigate the impact. The Grayscale Ethereum Mini Trust (ETH) remained resilient, seeing positive inflows of $231.9 million.

On August 20, ETHA achieved a milestone by becoming the first spot Ethereum ETF to surpass $1 billion in net inflows. However, overall net flows to the spot Ethereum ETF remained negative $458.5 million.

In contrast, spot Bitcoin ETFs have attracted significant investment, with the Grayscale Bitcoin Trust still seeing net inflows of $17.5 billion since its launch in January 2024, despite significant outflows. The Bitcoin ETF has recorded positive inflows in eight of the past ten days, with inflows as high as $88 million on August 20. BlackRock’s iShares Bitcoin Trust leads the way with $55.4 million in funding, bringing its total net inflows since January to $20.5 billion.