On Wednesday, Ethereum ETFs experienced positive flows as the BlackRock fund recorded approximately $110 million in net inflows.
According to data from Farside Investors, the Grayscale Ethereum Trust, which is currently trading as an exchange-traded fund (ETF), underwent an approximately $40 million exodus on August 6. Since its conversion from a trust last month, this represents the lowest daily outflow.
On the launch date, the ETHE ticker listed fund experienced a daily release rate of $484 million. After the initial week of trading, ETHE outflows exceeded $1.5 billion.
Nevertheless, the rate of exits has decreased since the beginning of this week. Following a net outflow of more than $61 million on Monday, ETHE reported an estimated $47 million on Tuesday. With the new outflows disclosed on Wednesday, the cumulative ETHE outflows have surpassed $147 million thus far this week.
Analyst Mads Eberhardts had previously predicted that ETHE outflows would decrease this week. Additionally, after outflows stabilized, he proposed a prospective price increase.
Slower inflows into the preponderance of funds are causing a varied trend in US spot Ethereum ETFs. Among the other funds in the group, BlackRock’s iShares Ethereum Trust (ETHA) has been the most successful. The ETF finished Wednesday with nearly $110 million in net inflows, bringing the total to nearly $870 million since its inception.
In total, the nine funds received a net of $98 million in cash on Wednesday. The Ethereum (FETH) fund of Fidelity followed BlackRock with $22.5 million in inflows. In addition, Grayscale’s Ethereum Mini Trust (ETH) and Franklin Templeton’s Ethereum ETF (EZET) witnessed additional gains.
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