Spot Ethereum ETFs Record $4.9 Million Inflows As Grayscale’s Fund Stops Bleeding And CoinShares Says Investors Favored ETH Over BTC Last Week

Spot
Ethereum
ETFs
(exchange-traded
funds)
recorded
$4.9
million
inflows
yesterday
after
Grayscale’s
Ethereum
Trust
ended
its
negative
streak
and
as
CoinShares
says
investors
favored


ETH

funds
over
BTC
investment
products
in
the
recent
market
rebound.

Data
from


SosoValue

shows
the
9
spot


Ethereum

ETFs
recorded
inflows
yesterday
after
suffering
negative
flows
for
3
consecutive
days.
Meanwhile,
Grayscale’s
Ethereum
Trust
(ETHE)
logged
zero
flows
for
the
first
time
since
its
conversion
into
an
ETF,
bringing
an
end
to
14
days
of
outflows.

VanEck’s
Fund
is
the
Only
One
Among
the
Spot
Ethereum
ETFs
to
Record
Outflows

VanEck’s
ETHV
was
the
only
spot
Ethereum
ETF
to
experience
negative
flows
on
Aug.
12.
ETHV
recorded
outflows
for
the
first
time
since
July
23
after
$2.92
million
left
its
reserves.

During
the
same
period,
Fidelity’s
FETH
posted
$3.98
million
in
net
inflows,
while
Franklin’s
EZET
saw
approximately
$1.01
million
in
inflows
yesterday.
Bitwise’s
ETHW
also
registered
positive
flows
after
$2.86
million
entered
the
fund.

In
addition
to
the
net
inflows,
the
collective
trading
volume
for
the
spot
Ethereum
ETFs
also
increased.
On
Aug.
12,
volumes
reached
$286
million,
which
was
a
more
than
$100
million
uptick
compared
to
Aug.
9.

Investors
Favored
ETH
Over
BTC
In
Latest
Market
Recovery

CoinShares
said
in
its
weekly
Digital
Asset
Fund
Flows


report

on
Aug.
12
that
$176
million
entered
crypto
asset
management
products
last
week.
Ethereum
funds
accounted
for
the
majority
of
the
inflows,
attracting
$155
million.
This
adds
up
to
around
88%
of
the
total
inflows.

????
Inflows
rebound
amid
market
correction!
Digital
asset
investment
products
saw
inflows
totalling
US$176m:

#Ethereum
has
benefited
the
most
from
the
recent
market
correction,
with
inflows
of
US$155m
last
week.

For
more
insights,
read
our
full
report:

https://t.co/zmIGby5elC

pic.twitter.com/CsDMUIpj4x

—
CoinShares
(@CoinSharesCo)

August
12,
2024

With
the
recent
capital
injection,
the
year-to-date
inflows
for
Ethereum-based
funds
has
reached
$862
million.
This
is
the
highest
amount
since
2021,
according
to
CoinShares,
who
added
that
this
is
“largely
due
to
the
launch
of
US
spot-based
ETFs.”

Over
the
past
24
hours,
Ethereum
managed
to
achieve
a
more
than
3%


gain

to
trade
at
$2,648.86
as
of
3:32
a.m.
EST.
Bitcoin
only
managed
to
record
a
1%
gain
throughout
the
past
day
of
trading.
The
leading
crypto
is
still
priced
below
the
$60K
mark.

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