Spot Ethereum ETFs record $24 million in net inflows, Grayscale’s ETHE shifts back to negative flows

08/14/2024 21:23
Spot Ethereum ETFs record $24 million in net inflows, Grayscale’s ETHE shifts back to negative flows

Spot bitcoin ETFs in the US saw $38.94 million flow into the funds on Tuesday, while spot ether ETFs recorded $24.34 million in net inflows.

Markets • August 14, 2024, 1:02AM EDT

Published 1 minute earlier on

UPDATED: August 14, 2024, 1:04AM EDT

Quick Take

  • U.S. spot ether ETFs recorded $24.3 million in net inflows, while spot bitcoin ETFs saw $38.9 million flow into the funds.
  • Grayscale’s ETHE shifted back to negative flows after having no flows the day before.

U.S. spot Ethereum ETH -0.67% exchange-traded funds saw $24.34 million in net inflows on Tuesday, continuing their positive flows from Monday. At the same time, the Grayscale Ethereum Trust (ETHE) experienced a return to negative flows after reporting zero flows the previous day.

Grayscale’s ETHE was the only spot ether fund to report net outflows on Tuesday, with $31 million leaving the ETF, according to data from SosoValue.

Inflows from three other ETFs offset that. BlackRock’s ETHA recorded the largest inflows among the funds yesterday, with $49.12 million in net inflows, following no flows the previous day. Fidelity’s FETH logged $5.41 million in net inflows, and Inveco’s QETH posted $813,690 in inflows.

The total daily trading volume of the nine spot ether ETFs reached around $191 million on Tuesday, compared to $285.9 million on Monday.

Spot bitcoin ETFs continued positive flows

Meanwhile, according to SosoValue data, the 12 spot bitcoin ETFs in the U.S. logged net inflows of $38.94 million on Tuesday.

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That was primarily contributed by BlackRock’s IBIT, the largest spot bitcoin ETF by net assets. It recorded $34.55 million in net inflows yesterday.

Fidelity’s FBTC followed with net inflows of $22.56 million, and Bitwise’s BITB logged $16.54 million in inflows.

Grayscale’s GBTC continued to experience outflows, with $28.65 million exiting the product, extending the ETF’s outflow streak to nine consecutive days. Ark and 21Shares’ ARKB recorded net outflows of $6 million yesterday.

On Tuesday, the total daily volume of the 12 ETFs amounted to $1.18 billion, slightly less than the $1.3 billion traded on Monday.

The price of bitcoin climbed 3.27% over the past 24 hours to $61,109 at the time of writing, according to The Block’s price page. Ether gained 2.1% to change hands at $2,713.


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© 2024 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

About Author

Timmy Shen is an Asia editor for The Block. Previously, he wrote about crypto and Web3 for Forkast.News from Taiwan after spending more than three years in Beijing covering finance, entertainment business and current affairs at Caixin Global and Chinese tech at TechNode. His China-related reporting has also appeared in The Guardian. When he's not chasing headlines, you'll find him savoring hot pot and shabu shabu in a Taipei local haunt. Timmy holds an MS degree from Columbia University Graduate School of Journalism. Send tips to [email protected] or get in touch on X/Telegram @timmyhmshen.

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