After 4 consecutive days of net outflows on spot Ethereum ETFs in the United States, the latter put an end to this streak in the red by finally recording a positive entry. Review of what has happened since the launch of spot ETH ETFs.
Finally a green day after a week for Ethereum spot ETFs
Ethereum spot ETFs recorded a net inflow of $33.6 million yesterdaythus ending 4 consecutive days of net capital outflows.
Although 8 of the 9 funds owned by different investment companies are in the green, Grayscale's ETHE shows $120 million in outflow.
On the contrary, BlackRock's ETHA alone almost offsets this capital outflow, recording nearly $118 million in net inflows..
Net inflows and outflows on ETH spot ETFs on the day of July 30
When the Bitcoin spot ETFs were launched, we had a fairly similar situation. Investors also had the Grayscale ETF to take their profits or to choose another cheaper alternative.
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Recall that Grayscale's ETH spot ETF is the most expensive in terms of fees with 2.5%. For comparison, BlackRock's ETF displays 10 times less costs with only 0.25%.
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A declining volume of transactions
Although Ethereum spot ETFs generated a lot of interest within the crypto community before their launch on July 23, their trading volume has been in sharp decline since their launch.
Indeed, after 2 days exceeding $1 billion in volume, this threshold seems far away today in view of yesterday. The transaction volume is thus divided by almost 2 by recording only $563 million during the last trading day.
🌐 Also in ETF news – Michigan State Adds $6.6M in Spot Bitcoin ETFs to Its Pension Fund
Historical data of ETH spot ETFs since their launch
So, after 4 consecutive days of outflow, ETH spot ETFs record 2nd day of net inflows since launch, first day being launch day. Meanwhile, the price of Ether is down 0.5% over the past 24 hours, bringing its price to $3,300 at the time of writing.
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Source: SoSo Value
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