The US spot Ethereum ETFs witnessed an impressive inflow of $4.9 million on Monday. One of the noteworthy highlights was the Grayscale Ethereum Trust (ETHE) which saw no withdrawals, marking a significant shift from the 14 days of outflows it had been experiencing. The trading volume for these ETFs soared on August 12th, reaching $286 million, a substantial increase from the previous figure of $166.9 million.
The Fidelity Ethereum Fund (FETH) took the lead in terms of inflows, securing $3.98 million. It was closely followed by the Bitwise Ethereum ETF (ETHW) with $2.86 million and the Franklin Ethereum Trust (EZET) at $1.01 million. Surprisingly, the VanEck Ethereum Trust (ETHV) was the only fund that experienced net outflows on August 12th, recording $2.92 million – a departure from its previous inflow trend.
Contrary to the outflows seen in some ETFs, others like the Grayscale Ethereum Mini Trust (ETH) and Invesco Galaxy Ethereum ETF (QETH) did not witness any significant flows. While BlackRock’s iShares Ethereum Trust (ETHA) did not see any inflows on the day, it has been steadily growing since its launch on July 23rd. With over $901 million in inflows, ETHA has emerged as the leader in the Ethereum ETF market, surpassing competitors like Fidelity Investments, Bitwise, Grayscale Investments, and VanEck.
Despite recent market fluctuations, Ethereum has stood out as a favorable investment option, attracting more investors during price drops. This trend indicates a growing interest in Ethereum-based investments, fueled by the potential for long-term growth and stability in the cryptocurrency market.
Overall, the rise of Ethereum ETFs in the US market reflects a shifting landscape where traditional investors are increasingly diversifying their portfolios to include digital assets. As the demand for cryptocurrency-related investment products continues to rise, ETF providers are adapting to meet this growing need, further expanding the accessibility and mainstream acceptance of Ethereum and other digital currencies.
