Fun

Ethereum ETFs show mixed signals as ETHE reports $31M outflow

News Feed - 2024-08-14 05:08:52

Amaka Nwaokocha40 minutes agoEthereum ETFs show mixed signals as ETHE reports $31M outflowCrypto investments remain volatile as Ethereum ETF flows turn negative, highlighting the market’s rapid evolution.244 Total viewsListen to article 0:00NewsOwn this piece of crypto historyCollect this article as NFTCOINTELEGRAPH IN YOUR SOCIAL FEEDFollow ourSubscribe onGrayscale’s Ethereum Trust ETF, ETHE, has reported a single-day net outflow of $31.01 million, marking a return to negative flows after a brief pause. This data, revealed by Farside Investors, indicates that the historical net outflow of ETHE has now reached $2.327 billion.


According to the data, this reversal follows a day of zero flows on Aug. 12. Despite the negative flow for Grayscale’s ETHE, the overall market for Ethereum spot ETFs showed positive movement. On Aug. 13, the total net inflow for Ethereum spot ETFs was $24.3412 million.


Grayscale’s Ethereum Trust (ETHE) achieved a milestone on Aug. 12, marking its first day without any outflows, breaking a streak of consecutive daily withdrawals since its inception. This, in turn, caused the US spot Ether (ETH) ETFs to experience a flow reversal for the fifth time since launching on July 23.


This development coincided with a notable increase in onchain activity across Ethereum and its layer-2 networks.Market dynamics and competition


Since its inception, ETHE has experienced a significant outflow of approximately $2.3 billion in Ether, representing a substantial 25% reduction of its initial $9 billion ETH holdings. ETHE resumed its negatived outflows on Aug. 13. Source: Farside Investors


This rapid decline occurred within just two and a half weeks, contrasting with the Grayscale Bitcoin Trust (GBTC), which took almost four months to achieve its first day without withdrawals. 


Related:Ether ETF weekly flows turn positive for first time since launch


However, Grayscale’s Ethereum Mini Trust ETF experienced a single-day net outflow of $0.00, maintaining a historical total net inflow of $221 million. This stability highlights the differing performance and investor confidence between Grayscale’s major and mini-trust ETFs.BlackRock"s ETHA and Fidelity’s FETH lead


Significant inflows into other Ethereum spot ETFs further shaped the market dynamics. BlackRock"s iShares ETF, ETHA, led the pack with a single-day net inflow of $49.1244 million, boosting its historical total net inflow to $950 million. 


Fidelity’s ETF, FETH, also showed robust performance with a single-day net inflow of $5.4132 million, bringing its historical total net inflow to $351 million.


As of the latest data, the total net asset value of Ethereum spot ETFs stood at $7.649 billion, while the ETF net asset ratio, representing the market value as a percentage of Ethereum’s total market value, was 2.36%.


Despite the positive inflows, the historical cumulative net outflow for Ethereum spot ETFs has reached $377 million.


Magazine:Decade after Ethereum ICO: Blockchain forensics end double-spending debate# Blockchain# Ethereum# Ethereum ETF# ETFAdd reaction

News Feed

Blockchain-Shy Bank of America Quietly Pilots Ripple Technology
Bank of America, the second-largest bank in the U.S., has quietly tested out Ripple’s distributed ledger technology – and may be planning to do more with it. Ripple we
Ciaran Lyons2 hours agoEvidence of crypto usage by ISIS is ‘mounting’ — TRM LabsBlockchain intelligence platform TRM Labs revealed that USDT on the Tron network is the primary choice for transactions among ISIS aff
The Future of NFT Is EVT, the New Game Changer Token
The Future of NFT Is EVT, the New Game Changer Token press release PRESS RELEASE.EVT (Encrypted Variable Token) is said to be the upgraded version of NFT (Non-Fungible Token) and wi
Three Arrows Capital Founders Speak After Filing Bankruptcy, Exec Says the ‘Whole Situation Is Regrettable’
Three Arrows Capital Founders Speak After Filing Bankruptcy, Exec Says the "Whole Situation Is Regrettable" This week the two co-founders of the embattled cryptocurrency hedge fund
Putin, Xi Vow to Use Yuan as Russia and China Move to Settlements in National Currencies
Putin, Xi Vow to Use Yuan as Russia and China Move to Settlements in National Currencies As part of the talks that Russian president Vladimir Putin and Chinese president Xi Jinping
Nigerian Central Bank Unveils Open Banking Guidelines
Nigerian Central Bank Unveils Open Banking Guidelines The Nigerian central bank recently said it had issued operational guidelines for open banking in Nigeria which are expected to
Bitcoin currently in ‘middle of the bull run’ — Grayscale report
Nancy Lubale6 hours agoBitcoin currently in ‘middle of the bull run’ — Grayscale reportGrayscale says multiple metrics make it clear that Bitcoin is in the “middle of the bull run.”3207 Total views4 Total share
$1 Trillion in Housing Bonds: US Real Estate Crisis Held Back by Fed’s Mortgage Purchases
$1 Trillion in Housing Bonds: US Real Estate Crisis Held Back by Fed"s Mortgage PurchasesThe U.S. real estate market is facing a conundrum, as there’s now a tidal wave of rent
Biggest Movers: DOGE Over 130% Higher in the Last 7 Days
Biggest Movers: DOGE Over 130% Higher in the Last 7 Days Meme coins remained higher on Tuesday, despite cryptocurrency markets mostly trading in the red. Dogecoin is now over 130%
Circle Announces the Stablecoin USDC Is Now Supported by the Polygon Network
Circle Announces the Stablecoin USDC Is Now Supported by the Polygon Network Circle, the issuer of the stablecoin usd coin (USDC), announced that the project is now supported on th
Altcoin Season Just Flashed A Golden Cross Amid Crypto Market Recovery
Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and pu
Here’s What Will Happen If The Bitcoin Price Can Manage A Clean Break Above $108,500
Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and pu