ETH ETFs see $4.3 million in net inflows as Grayscale outflows stop

U.S. spot Ethereum exchange-traded funds saw positive inflows after three consecutive outflows. The inflows were complemented by Grayscale’s offering, which saw its first day of zero outflows.

Data from SosoValue suggests that the total net inflows into the nine ether ETFs amounted to $4.9 million, reversing last week’s negative flows recorded between August 7 and August 9.

Selling pressure subsides

Over $42 million left ETH ETF products in that period, despite the offerings witnessing overall net inflows of $104.8 million for the week beginning Aug. 5. The total net assets stood at $7.28 billion as of August 9, marking the third week as the first positive week for the funds.

That number has jumped to $7.48 billion as of August 12, with inflows led by Fidelity’s FETH, recording $3.98 million, closely followed by Bitwise’s ETHW product drawing in $2.86 million. Franklin’s EZET saw about $1.01 million in inflows.

The only outflows came from VanEck’s ETHV, as $2.92 million left the fund for the first time since the launch of Ether ETFs on July 23. Similarly, last week, Fidelity’s FETH saw its first outflows since its launch on August 8.

To date, these two products are the only offerings to have seen outflow days, with FETH being the only offering without a zero-flow day since launch.

The remainder of ETH products remained neutral on August 12.

Grayscale’s ETHE offering has been leading the outflows, with approximately $2.3 billion having left the fund at the time of publication. However, it recorded its first-ever day of zero outflows on August 12, after 13 consecutive days of outflows.

Some users in the crypto community perceived the outflows slowing down as a bullish indicator.

Blackrock’s ETHA remained the most popular product among the lot, having amassed $901.1 million since July 23, with the nearest competitor being FETH, with total inflows to date standing at $345.8 million.

However, the cumulative total net inflows into all ETH ETF products remained negative at $401 million, down from the $405 million recorded on August 9. The total daily trading volume for ETH ETFs increased to $286 million, up from $166.9 million on Friday.

Bitcoin ETFs stay positive

Bitcoin ETF products recorded $27.87 million in inflows on the same day, led by the ARK 21Shares Bitcoin ETF with $35 million in inflows.

Only two other offerings recorded inflows, with Blackrock’s IBIT seeing $13.4 million and Grayscale’s Bitcoin mini trust drawing in $7.9 million.

In contrast, Grayscale’s Bitcoin Trust ETF (GBTC) saw outflows of $11.8 million. Bitwise’s BITB had the highest outflow, with over $17 million inflow.

Blackrock’s offering retained its position as the most popular product in the lot, with over $20 billion in positive flows since its launch. The impressive numbers have been offset by GBTC, which has shed approximately $19.5 billion to date.

The total cumulative inflows into the twelve BTC ETF offerings remained positive at $17.3 billion.