Recently, the US spot Ethereum ETFs have seen a surge in inflows, with a total of $4.9 million recorded on Monday. This increase in investment activity is a positive sign for the market, indicating growing interest in Ethereum among investors.
On August 12th, the trading volume for these ETFs was robust, reaching $286 million. This marked a significant jump from the previous day’s figure of $166.9 million. Leading the pack in terms of inflows was Fidelity Ethereum Fund (FETH), which attracted $3.98 million. Bitwise Ethereum ETF (ETHW) followed closely behind with $2.86 million, and Franklin Ethereum Trust (EZET) recorded inflows of $1.01 million. These numbers indicate a healthy demand for Ethereum ETFs in the market.
While most ETFs experienced inflows, there were some exceptions. VanEck Ethereum Trust (ETHV) recorded net outflows of $2.92 million on August 12th, marking the first outflow since July 23. On the other hand, Grayscale Ethereum Mini Trust (ETH) and Invesco Galaxy Ethereum ETF (QETH) did not register any flows. BlackRock’s iShares Ethereum Trust (ETHA) also saw zero inflows for the day but has shown significant growth since its launch on July 23, attracting over $901 million in inflows. This performance positions BlackRock as a leader in the Ethereum ETF market, ahead of competitors like Fidelity Investments, Bitwise, Grayscale Investments, and VanEck.
Despite the recent market downturn, Ethereum has fared relatively well compared to other cryptocurrencies. Investors seem to have taken advantage of the price drop to increase their investments in Ethereum. This trend reflects a growing confidence in Ethereum’s long-term potential and its ability to weather market volatility.
The recent trends in US spot Ethereum ETFs paint a mixed picture of the market. While overall inflows have increased and trading volumes remain strong, there are variations in performance among different ETFs. It will be interesting to see how these trends develop in the coming days and what they signal for the future of Ethereum and the broader cryptocurrency market.
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