US spot Ethereum ETFs saw net inflows of $106.7 million on first trading day

The Block2024/07/24 05:05

By:Timmy Shen

U.S. spot Ethereum ETFs recorded $106.7 million in net inflows on their first trading day, with a total trading volume exceeding $1 billion.Grayscale Ethereum Trust (ETHE) experienced $484.1 million in net outflows, the only fund with outflows.Blackrock’s ETHA led with $266.55 million in net inflows, followed by Bitwise ETHW’s $204 million, Fidelity FETH’s $71.31 million, and Grayscale’s Ethereum Mini Trust with $15.15 million.

U.S. spot Ethereum ETH -0.44% exchange-traded funds recorded $106.7 million in net inflows on its first day of trading, with over $1 billion in trading volume.

The nine different ether ETFs from eight issuers began trading on Tuesday. The Grayscale Ethereum Trust (ETHE) saw $484.1 million in net outflows — the only one logging outflows among the funds, according to data from SosoValue.

Blackrock’s ETHA led the inflow pack with $266.55 million, followed by Bitwise ETHW’s $204 million, Fidelity FETH’s $71.31 million and Grayscale's Ethereum Mini Trust with $15.15 million in net inflows.

The total trading volume for the nine ether ETFs amounted to $1.05 billion , according to Yahoo Finance data compiled by The Block Pro Research. These spot Ethereum ETFs have already amassed over $10 billion in assets under management, SosoValue data shows.

Meanwhile, spot bitcoin ETFs in the U.S. saw $77.97 million flow out of the funds on Tuesday, ending a 12-day streak of positive flows, SosoValue data showed. Bitwise’s BITB logged $70.32 million in net outflows — the largest net outflows among the ETFs. That was followed by Ark and 21Shares ARKB’s $52.29 million and Grayscale GBTC’s $27.31 million in net outflows.

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