Grayscale's ethereum ETF saw its lowest daily outflow.
Despite the mixed performance, the nine ETFs together recorded net inflows of $98 million on Tuesday.
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Around $40 million left the Grayscale ethereum Trust, which is now trading as an exchange-traded fund (ETF) on August 6, according to data from Farside Investors. This marks the lowest daily outflow since its conversion from a trust last month.
The daily pace of outflows from the fund, which trades under the ticker ETHE, peaked at $484 million on its debut date. ETHE outflows exceeded $1.5 billion after the first week of trading.
However, the pace of outflows has cooled since earlier this week. On Monday, ETHE reported over $46 million in net outflows. With the new outflows reported on Tuesday, total ETHE outflows have surpassed $86 million so far this week.
Previously, analyst Mads Eberhardts anticipated a slowdown in ETHE outflows this week. He also suggested a possible price increase after outflows stabilized.
U.S. spot ethereum ETFs are seeing a mixed trend as inflows slow across most funds. BlackRock’s iShares ethereum Trust (ETHA) has been the most successful among the others in the group. The ETF closed Tuesday with nearly $110 million in net inflows, bringing the total to nearly $870 million since launch.
In total, the nine funds took in a net $98 million in cash on Tuesday. Fidelity’s ethereum fund (FETH) followed BlackRock with $22.5 million in inflows. Other gains were also seen in Grayscale’s ethereum Mini Trust (eth) and Franklin Templeton’s ethereum ETF (EZET).
(Update: Wednesday was replaced by Tuesday)
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