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US spot ethereum exchange-traded funds (ETFs) have seen a decline in net inflows after a strong start with nearly $107 million. According to data According to Farside Investors, investors withdrew around $133 million from these products on the second day of trading.
Fidelity’s ethereum fund (FETH) overtook BlackRock’s iShares ethereum Trust (ETHA) to become the day’s leader with $74.5 million in net inflows. Meanwhile, BlackRock’s fund raised nearly $17.5 million on Wednesday.
On the first day of trading, ETHA led the pack with over $266 million. ETHA flows and additional inflows from seven other ethereum ETFs managed to offset massive outflows from Grayscale’s ethereum ETF (ETHE) on its debut day.
However, no similar dynamic occurred on the second day. Grayscale's ETHE lost nearly $327 million, bringing total outflows to $811 million since the fund's conversion. After the second day of trading, ETHE assets under management It fell to 8.3 billion dollarsdown from $9 billion prior to the debut of ethereum spot ETFs.
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