Ethereum ETFs Face $39M Net Outflows, Ending Positive Flow Streak

Overview of Recent ETF Flows

According to a report by The Block, U.S. spot Ethereum ETFs experienced $39.2 million in net outflows on Thursday, halting their three-day streak of positive flows. In contrast, spot Bitcoin ETFs saw moderate inflows of $11.1 million on the same day.

Details on Ethereum ETF Outflows

The Grayscale Ethereum Trust (ETHE) continued to see substantial outflows, with $42.5 million exiting the fund. This was the only spot Ethereum ETF to report outflows on Thursday, as detailed by SosoValue.

• Grayscale Ethereum Trust (ETHE): $42.52 million in outflows.
• Grayscale Ethereum Mini Trust (ETH): Reported no new flows on Thursday after a moderate $2.26 million inflow the previous day.
• Fidelity’s FETH: Recorded net inflows of $2.54 million.
• BlackRock’s ETHA: Saw $770,350 in inflows.
• Other ETFs: Logged zero flows.

On Thursday, the total daily volume for the nine spot Ethereum ETFs reached $240.58 million, which was significantly higher compared to $155.91 million on Wednesday and $190.76 million on Tuesday.

Spot Bitcoin ETFs Report Mild Inflows

In contrast to Ethereum ETFs, U.S. spot Bitcoin ETFs recorded moderate inflows of $11.11 million on Thursday. This was a recovery from the $81.36 million in net outflows reported the previous day.

• BlackRock’s IBIT: The largest spot Bitcoin ETF by net assets saw no flows on Thursday, following net inflows of $2.68 million on Wednesday and $34.55 million on Tuesday.
• Grayscale’s GBTC: Reported $25.03 million in outflows, extending its negative flow streak to 11 days.
• Fidelity’s FBTC: Experienced the largest inflows of the day with $16.25 million.
• Grayscale Mini Trust (BTC): Followed with $13.66 million in inflows.
• Bitwise’s BITB: Recorded $6.23 million in inflows.

The total trading volume for the spot Bitcoin ETFs on Thursday was $1.79 billion, up from $1.3 billion on Wednesday.

Conclusion

Thursday’s trading data highlights a significant shift in ETF flows, with Ethereum ETFs experiencing a notable outflow and Bitcoin ETFs seeing moderate inflows. This shift reflects changing investor sentiment and market dynamics within the ETF space.