Spot Ethereum ETFs Record Longest Outflow Among Dry Investments
U.S.-based spot ether exchange-traded funds (ETFs) posted their longest streak of five days since opening on July 23.
Most of the investments made in the nine recently approved Spot Ether (ETH) ETFs were covered by outflows from the Grayscale Ethereum Trust (ETHE), which totaled more than $2.5 billion as of August 21st.
According to data from Farside Investors, the grayscale fund withdraws from ETHE every day except August 12.
Gross returns and investment flows from SpotEther ETFs. Source: Farside Investors
As shown above, SpotEther ETFs had the longest outflow, losing $92.2 million over five days from August 15-21.
Protection from grayscale flows
Grayscale's ETHE reported spending of $158.6 million during this period. But comparable returns from BlackRock's iShares Ethereum Trust ETF ( ETHA ), Fidelity Ethereum Fund ( FETH ) and Bitwise Ethereum ETF ( ETHW ) helped offset the losses.
In contrast, the Grayscale Ethereum Mini Trust (ETH) has not reported any inflows since its launch and has maintained positive inflows of $231.9 million.
ETHA became the first spot to bring in $1 billion in net inflows on Aug. 20. Overall, net inflows from spot ETHAs are currently negative $458.5 million.
Related: Spot Bitcoin ETFs Draw Investor Interest Despite August Flows
To learn more about SpotEther ETF, check out Cointelegraph's Beginner's Guide.
Bitcoin ETFs attract investors
On the other hand, Bitcoin (BTC) ETFs launched in January 2024 in the US had a net positive inflow of $17.5 billion. Spot BTC ETFs Maintain Positive Balance Sheet Despite Greyscale Bitcoin Trust's $19.6 Billion Cost
Moreover, the spot Bitcoin ETFs have maintained positive flows for eight of the past 10 days. In the year On August 20, the BTC ETF saw total inflows of $88 million, the highest in two weeks, according to data from Farside Investors.
BlackRock's iShares Bitcoin Trust led the way with $55.4 million in revenue, bringing the product's total net revenue to $20.5 billion since its launch in January.
Magazine: Dorsey's ‘Algorithmic Marketplace' Could Fix Social Media… So Why Didn't It?
