Spot Ethereum exchange-traded funds (ETFs) in the U.S. have reversed a nine-day trend of outflows with a net inflow of $5.84 million on Wednesday. This marks a significant moment for the funds, which have seen sustained outflows over the past week.
Data from SoSoValue reveals that while the Grayscale Ethereum Trust (ETHE) experienced a daily net outflow of $3.81 million, this was more than offset by inflows into other funds. Notably, BlackRock’s spot ether fund attracted $8.4 million, and Fidelity’s FETH saw an inflow of $1.26 million.
Despite the recent inflow, the nine spot ether ETFs recorded $151.57 million in trading volume on Wednesday, which is a stark contrast to the approximately $900 million in volume seen in late July when these ETFs first launched. Overall, these funds have faced total net outflows of $475.48 million since their inception.
Spot Bitcoin ETFs Continue to See Outflows
In contrast, U.S. spot bitcoin ETFs continued to experience net outflows, with $105.19 million withdrawn on Wednesday. The largest outflow was from Ark and 21Shares’ ARKB, which saw $59.27 million in withdrawals. Fidelity’s FBTC and VanEck’s bitcoin fund also reported outflows of $10.37 million and $10.07 million, respectively.
Other funds, including Bitwise’s BITB, Grayscale’s mini bitcoin trust, and the larger Grayscale Bitcoin Trust (GBTC), collectively reported net outflows of around $8 million. Interestingly, BlackRock’s IBIT, the largest spot bitcoin ETF by net assets, along with five other bitcoin ETFs, reported no flows for the day.
Despite these outflows, spot bitcoin ETFs had a total trading volume of $2.18 billion on Wednesday, up from $1.2 billion the day before. Since the beginning of the year, these funds have accumulated $17.85 billion in net inflows, highlighting their enduring appeal despite recent fluctuations.
