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ethereum spot ETFs saw $4.9 million in inflows yesterday after Grayscale's ethereum Trust ended its losing streak, and as CoinShares says, investors favored Ethnicity funds on btc investment products in the recent market rally.
Data from Bland Value show point 9 ethereum ETFs saw capital inflows yesterday after suffering negative flows for 3 consecutive days. Meanwhile, Grayscale’s ethereum Trust (ETHE) recorded zero inflows for the first time since its conversion into an ETF, ending 14 days of capital outflows.
<img decoding="async" alt="ethereum | Fortune Cryptocurrency” src=”https://fortune.com/_next/image/?url=https%3A%2F%2Ffortune.com%2Fimg-assets%2Fwp-content%2Fuploads%2F2023%2F05%2FCoins-ethereum.jpg%3Fresize%3D1200%2C600&w=1440&q=75″/><img decoding="async" src="https://fortune.com/_next/image/?url=https%3A%2F%2Ffortune.com%2Fimg-assets%2Fwp-content%2Fuploads%2F2023%2F05%2FCoins-ethereum.jpg%3Fresize%3D1200%2C600&w=1440&q=75″ alt=”ethereum | Fortune Cryptocurrency”/>
VanEck's fund is the only one among ethereum spot ETFs to see outflows
VanEck’s ETHV was the only ethereum spot ETF to experience negative flows on Aug. 12. ETHV saw outflows for the first time since July 23 after $2.92 million left its reserves.
During the same period, Fidelity’s FETH recorded $3.98 million in net inflows, while Franklin’s EZET saw approximately $1.01 million in inflows yesterday. Bitwise’s ETHW also saw positive flows after $2.86 million entered the fund.
In addition to net inflows, the collective trading volume of spot ethereum ETFs also increased. On August 12, volumes reached $286 million, which was an increase of more than $100 million compared to August 9.
Investors favored eth over btc in the latest market rally
CoinShares said in its weekly report on digital asset fund flows report On August 12, $176 million entered crypto asset management products last week. ethereum funds accounted for the majority of inflows, attracting $155 million. This amounts to around 88% of total inflows.
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Capital inflows recover amid market correction! Digital asset investment products saw inflows totaling US$176 million: twitter.com/hashtag/ethereum?src=hash&ref_src=twsrc%5Etfw”>#ethereum has benefited the most from the recent market correction, with inflows of US$155 million last week.
For more information, read our full report: https://t.co/zmIGby5elC image.twitter.com/CsDMUIpj4x
— CoinShares (@CoinSharesCo) twitter.com/CoinSharesCo/status/1822952649689272548?ref_src=twsrc%5Etfw”>August 12, 2024
With the recent capital injection, inflows into ethereum-based funds so far this year have reached $862 million. This is the highest figure since 2021, according to CoinShares, which added that this is “largely due to the launch of spot ETFs in the US.”
In the last 24 hours, ethereum managed to achieve an increase of more than 3%. ethereum/”>gain at $2,648.86 as of 3:32 a.m. EST. bitcoin only managed to record a 1% gain over the past trading day. The leading cryptocurrency is still priced below the $60,000 mark.
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