The nine U.S. spot Ethereum exchange-traded funds saw $133.16 million in net outflows on Wednesday, their second day of trading, reversing course from Tuesday’s positive flows. 

The Grayscale Ethereum Trust (ETHE) saw $326.86 million in net outflows — the only one logging outflows among the ether funds, according to data from SosoValue.

Fidelity’s FETH led the inflow pack with $74.46 million, followed by Grayscale Ethereum Mini Trust’s $45.93 million, Bitwise ETHW’s $29.64 million and VanEck ETHV’s $19.84 million in net inflows.

BlackRock’s ETHA experienced $17.44 million in net inflows, compared to Tuesday’s inflows of $266.55 million.

The spot ether ETFs generated about $951 million in trading volume on Wednesday, compared to $1.05 billion on Tuesday, their first day of …