Ethereum ETFs See First Positive Flow Since Launch

U.S.-listed spot Ethereum exchange-traded funds (ETFs) just saw their first day of money coming in since they started. This change happened mainly because less money left the Grayscale Ethereum Trust.

According to Farside Investors and Tree News, on July 30, all nine spot Ether ETFs gained $33.6 million together. This is the first time these funds have gained money since they began. From July 24 to July 29, about $547 million left these Ethereum investment products.

BlackRock’s iShares Ethereum ETF (ETHA) received the most $117.9 million. Fidelity’s Advantage Ether ETF (FETH) gained $16.4 million. Bitwise Ethereum Fund (ETHW) and Franklin ETHE ETF (EZET) each received about $3.5 million.

Grayscale’s ETHE has lost the least money, with only $120.3 million left. This is much less than the $481 million that went on launch day. Other funds didn’t gain or lose any money.

Ethereum ETFs Surge: Birthday Gift for Wall Street?

Anthony Sassano, who supports ETHE, joked that this positive change was like a birthday gift for Larry Fink. Zaheer Ebtikar from Split Capital thought some money might be moving from Bitcoin ETFs to Ethereum ETFs. Bitcoin ETFs lost $18.3 million on the same day.

Source: Anthony Sassano

Just a day earlier, Mads Eberhardt from Steno Research said the significant outflows from Grayscale’s ETHE would likely slow down this week. This prediction has come true.

Nate Geraci, president of ETF Store, pointed out that after just one week, BlackRock’s iShares Ethereum ETF is already one of the top 15 new ETFs this year in terms of money coming in. It’s in the top 15 out of about 330 new ETFs.

Since its start on July 23, the BlackRock ETHA fund has received $618 million, making it the leader for both Ethereum and Bitcoin ETFs.

Samara Cohen, who leads ETFs at BlackRock, shared some good news. She said that by the end of the year, big financial firms will include Ethereum ETFs in their investment plans for clients. This could mean more people will invest in these funds in the future.

This change shows investors might start feeling more positive about Ethereum ETFs after a slow start. However, it’s still early days, and we’ll need to watch how these funds perform over time.

Furthermore, the author’s views are for reference only and shall not constitute investment advice. Before purchasing, please ensure you fully understand and assess the products and associated risks.