Fidelity Ethereum ETF records the highest daily flow since its launch
Investment outflows from the Fidelity Ethereum Fund (FETH) exceeded $25 million on October 1st, the largest daily outflow among all other US-based Ethereum exchange-traded funds (ETFs), not including the Grayscale Ethereum Trust. . (ETH)
On October 1, Spot Ether (ETH) ETFs saw a total inflow of $48.6 million across nine issuers. FETH, ETHE and Bitwise Ethereum ETF (ETHW) spent $25 million, $26.6 million and $0.9 million respectively.
Source: Farside Investors
The only ETH ETFs to record positive returns were 21Shares' Core Ethereum ETF ( CETH ) and VanEck Ethereum ETF ( ETHV ), which brought in $1.2 million and $2.7 million, respectively. The rest said there was no change.
Grayscale continues to hold the record for daily flow.
Although Greyscale's ETHE continues to hold the record for daily flows, the Fidelity milestone highlights the pressure on the ETH ETF market. However, FETH remains the second highest in total investments at $453.5 million.
BlackRock's iShares Ethereum Trust ( ETHA ) leads the way in total investments as of Oct. 1, with more than $1.14 billion.
SpotEther ETF Total Investment Flow. Source: Farside Investors
Despite steady revenue streams recorded by other players over the past three months, Grayscale's exit is closing in on the $3 billion mark. As a result, total investments in space ether ETFs in the United States now show a deficit of $572 million.
Related: Bitwise files XRP ETF trust registration in Delaware
Bitcoin ETFs simulate the flow of Ethereum
The spot Bitcoin (BTC) ETF market followed the same trend, recording an inflow of $242.6 million on October 1. This marked the largest inflow in a month since September 3.
Fidelity Wise Origin Bitcoin Fund (FBTC) recorded the highest outflow at $144.7 million, followed by ARK 21Shares Bitcoin ETF (ARKB) with $84.3 million in outflows.
US Spot Bitcoin ETF Total Investment Flow. Source: Farside Investors
After Iran's missile attack on Israel on October 1st, the price of Bitcoin dropped to $4,000, but at the time of publication it had risen to $61,750.
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