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ethereum (eth) spot exchange-traded fund (ETF) inflows surpassed $2 billion in nearly four weeks, excluding Grayscale’s ETHE outflows of nearly $2.5 billion, according to Farside Investors. eth/”>data.
Nate Geraci, CEO of ETF shop x.com/NateGeraci/status/1826268160775131641″>Outstanding which if this accumulated value is considered under an ETF, would be equivalent to the fourth largest ETF launch to date.
The other three ETF launches that outperformed ethereum cumulative ETFs are all spot bitcoin (btc) ETFs: BlackRock’s IBIT, Fidelity’s FBTC, and ARK 21Shares’ ARKB.
Geraci added:
“On its own, the iShares ethereum ETF is among the top 7 ETF launches.”
Eric Balchunas, Senior ETF Analyst at Bloomberg shared that ETF flows so far this year have reached x.com/EricBalchunas/status/1826222970886656327″>$911 billion Globally, the $17 billion in net flows recorded by U.S.-traded cryptocurrency spot ETFs represent nearly 2% of total global flows.
Notably, IBIT is the third-largest ETF in terms of inflows, approaching $20.5 billion. FBTC also ranks among the largest funds, with nearly $10 billion in inflows.
ethereum ETFs are left behind
Despite surpassing the $2 billion mark in cumulative inflows, the performance of ethereum spot ETFs still lags behind that of their bitcoin counterparts.
Bitfinex analysts attribute this to ethereum's weak overall performance over the past few weeks, with the cryptocurrency down 40% over the past month.
Jump crypto, Wintermute, and Flow Traders have sold 130,000 eth in total since the ethereum ETFs were launched. In addition, the macroeconomic outlook was recently shaken by the sharp rise in interest rates in Japan, which reduced risk appetite in the market.
Aurelie Barthere, Senior Research Analyst at Nansen, also shared with CryptoSlate that the cryptocurrency market sell-off in March resulted in significant losses, especially for traders who were involved in multiple cryptocurrency narratives.
In addition, a second wave of selling occurred between July and August, highlighting a growing correlation with stocks. This has put further pressure on Ether amid solid but slowing growth in the US and elevated valuations in traditional risk assets such as US stocks.
