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US spot ethereum exchange-traded funds started the week with inflows as the cryptocurrency market recovered from a local slump.
According data According to Farside Investors, ethereum (eth) spot ETFs saw net inflows worth $48.8 million on Monday, August 5. The majority of the inflows, worth $47.1 million, came from BlackRock’s ETHA fund, helping the ETF’s total inflows surpass the $750 million mark.
VanEck’s ETHV and Fidelity’s FETH funds also saw double-digit inflows of $16.6 million and $16.2 million, respectively.
Grayscale’s mini eth ETF and Bitwise’s ETHW ETF saw inflows worth $7.6 million and $7.2 million, according to data from Farside Investors. Franklin Templeton’s EZET fund also saw inflows worth about $900,000.
On the other hand, Grayscale’s ETHE fund continued its outflow again and saw $46.8 million in outflows on August 5. So far, the ETHE ETF has seen $2.16 billion in outflows since the investment products were launched in the US.
Meanwhile, bitcoin (btc) spot ETFs saw net outflows of $168.4 million at the start of the week.
Grayscale bitcoin Trust ETF (GBTC), ARK 21Shares bitcoin ETF (ARKB), and Fidelity Wise Origin bitcoin Fund (FBTC) saw outflows of $69.1 million, $69 million, and $58 million on Aug. 5.
Grayscale’s VanEck bitcoin Trust (HODL) and Bitwise bitcoin ETF, a btc mini fund, saw inflows of $21.8 million, $3 million, and $2.9 million, respectively.
The remaining btc spot ETFs remained neutral as the cryptocurrency market oscillated in FUD (fear, uncertainty, and doubt).
Data from CoinGecko sample The global cryptocurrency market capitalization has seen a strong rally, rising 8.6% over the past 24 hours to $2.07 trillion.
bitcoin also recovered from the $49,000 area and is currently trading at $55,950 at the time of writing. ethereum reclaimed the psychological support line of $2,500 after registering a 14.4% rally in the past 24 hours.
