Ethereum ETFs Continue Rally with $98M Net Inflows After Rocky Start

• Ethereum ETFs have bagged over $150 million in net inflows since Aug. 5, 2024.
• The price of ETH is down over 20% since the start of the week.
• Bitcoin ETFs have seen over $300 million in exits as whales purchase discounted BTC tokens.

U.S. Spot Ethereum (ETH) exchange-traded funds (ETFs) have posted their second day of net inflows since the start of the week despite the broader crypto and stock market turmoil.

With the price of ETH still hovering around $2,500, institutional investor buying activity is evident, with Ethereum ETFs outperforming Bitcoin ETFs in terms of cumulative net inflows.

Ethereum ETFs

As per data from SoSoValue , ETH ETFs have seen their second-ever consecutive day of net inflows, recording $98.3 million on Aug. 6, 2024.

BlackRock’s iShares ETF (ETHA) was once again on top, posting $109.89 million in net inflows, bringing its cumulative net inflows to $869.89 million.

Fidelity’s Ethereum Fund (FETH) came in second, recording $22.49 million in net inflows. Not far behind is the Grayscale Ethereum Mini Trust (ETH), which saw a respectful $4.7 million enter its fund. Franklin Templeton’s Ethereum ETF (EZET) netted a humble $950,000 on its third consecutive day of net inflows.

Neutrality Reigns Supreme

One particular trend within ETH ETFs is the ongoing neutrality of flows for some of the ‘smaller’ funds.

The VanEck Ethereum ETF (ETHV), 21Shares Core Ethereum ETF (CETH), and others have regularly recorded neutral flows. Notably, the Invesco Galaxy Ethereum ETF (QETH) is on its eighth day of neutral flows.

Another common trend is the Grayscale Ethereum Trust (ETHE) and its penchant for market exits. On Aug. 6, 2024, ETHE posted its eleventh consecutive day of net outflows, shedding $39.73 million from the fund, bringing its cumulative net outflows to $2.2 billion since launch.

Buying the Dip

Seemingly, institutional investors are eager to get in on the action after falling below $3,000 over the weekend. ETH ETFs experienced a single day of outflows on Monday as a knee-jerk response to compounding crypto and stock market woes.

Following this, they’ve netted over $150 million since the beginning of the week. Comparatively, Bitcoin ETFs have seen sustained outflows this week, with over $300 million exiting BTC ETF funds since the start of the week.

Can Ethereum ETFs outperform Bitcoin ETFs in terms of volume? Probably not. But as long as investors remain confident and Grayscale continues to relax its outflows, we could see more consistent positive flows in the coming weeks.

About the Author

Eddie Mitchell

Eddie has been writing news and content primarily for crypto news and industry players over the past seven years. With an eye for the bigger picture, Eddie prefers to investigate the broader implications of a story, as well as explore the weird and wonderful world of crypto. He believes blockchain has already changed the world, but observes the space overall with a skeptical and adoring eye.

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