On Wednesday, U.S.-based spot ethereum exchange-traded funds (ETFs) experienced a day of outflows, with $77.21 million withdrawn from the funds. While six ETFs reported inflows, Grayscale’s Ethereum Trust (ETHE) saw a substantial reduction of $133.33 million.
Over $77 Million Withdrawn From U.S. Spot Ethereum ETFs
The nine spot ether ETFs collectively recorded a trading volume of $472.5 million and net outflows of $77.21 million on Wednesday. Grayscale’s ETHE shed $133.33 million, whereas Franklin Templeton’s EZET and Invesco’s QETH remained neutral, seeing neither inflows nor outflows.
In contrast, Grayscale’s Mini Ethereum Trust (ETH) led with $19.54 million in net inflows on July 31. Fidelity’s FETH absorbed around $18.8 million, and Blackrock’s ETHA gained $4.98 million. Vaneck’s ETHV fund recorded $4.81 million, Bitwise’s ETHW saw $4.71 million, and 21shares’ CETH pulled in $3.28 million on Wednesday. Since trading began, the spot ETH ETFs have only seen two days of positive net inflows.
As of now, cumulative net inflows since July 23 are negative, standing at -$483.18 million. Grayscale’s ETHE is nearing $2 billion in total outflows, having divested $1.98 billion since it began public trading. Collectively, the nine ETFs hold $9.08 billion in ETH, representing 2.34% of ETH’s market capitalization, according to sosovalue.xyz data.
What do you think about the spot ether ETF action on Wednesday? Share your thoughts and opinions about this subject in the comments section below.
Source: Bitcoin
