Grayscale Ethereum Trust Records Zero Outflows for the First Time Post ETF Conversion
The US spot Ethereum ETFs attracted a total inflow of $4.9 million on Monday. Grayscale Ethereum Trust (ETHE) notably recorded no withdrawals, a first since its conversion to an ETF following 14 days of outflows.
Monday’s trading volume for these ETFs was strong, hitting $286 million on August 12th, a significant jump from Friday’s figure of $166.9 million.
Leading the inflow race was Fidelity Ethereum Fund (FETH), which recorded $3.98 million, trailed closely behind by Bitwise Ethereum ETF (ETHW), with $2.86 million, and Franklin Ethereum Trust (EZET) at $1.01 million.
According to the data compiled by SoSoValue, VanEck Ethereum Trust (ETHV) was the only fund to have recorded net outflows on August 12th with $2.92 million – the first since July 23. Simultaneously, other ETFs like the Grayscale Ethereum Mini Trust (ETH) and Invesco Galaxy Ethereum ETF (QETH) did not register any flows.
While BlackRock’s iShares Ethereum Trust (ETHA) also recorded zero inflows for the day, the fund has experienced significant growth since its launch on July 23rd.
In fact, ETHA has attracted more than $901 million in inflows. This figure positions BlackRock as the leader in the Ethereum ETF market, outpacing rivals like Fidelity Investments, Bitwise, Grayscale Investments, and VanEck.
Amid the recent market slump, Ethereum has benefited the most, as investors seemingly took advantage of the price drop to invest more. This was evident in CoinShares’ report, which revealed that Ethereum-based investment products accumulated $155 million in inflows this past week.
The post Grayscale Ethereum Trust Records Zero Outflows for the First Time Post ETF Conversion appeared first on CryptoPotato.
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