Spot Ethereum (ETH) exchange-traded funds (ETFs) in the United States experienced their most significant net outflows since late July, with a total of $79.2 million withdrawn on Monday. Grayscale’s Ethereum Trust (ETHE) saw the largest outflows, with $80.5 million leaving the fund. This marks a notable decline for Ethereum-based ETFs, which have faced consistent market pressures recently.
Spot Ethereum ETFs See Significant Outflows
According to Sosovalue data, Monday's net outflows were the largest for Ethereum ETFs since July 29. Grayscale’s ETHE led the outflows, accounting for most of the day’s activity. Interestingly, ETHE was the only spot Ethereum ETF to record any outflows on Monday.
While Grayscale’s Ethereum fund faced significant outflows, other Ethereum ETFs showed little movement. Bitwise’s ETHW saw a modest inflow of $1.34 million, and the remaining seven Ethereum ETFs showed no trading activity. In contrast, the total trading volume for the nine spot Ethereum ETFs jumped to $167.35 million on Monday, up from $139.47 million on the previous Friday.
Spot Bitcoin ETFs See Modest Inflows
In comparison, spot Bitcoin ETFs experienced modest inflows on the same day, amounting to $4.5 million. Fidelity’s FBTC was the largest contributor, with $24.93 million in inflows, while BlackRock’s IBIT saw $11.54 million added to its assets. Bitcoin's price dipped 1.1% over the past 24 hours to $63,122, while Ethereum slid 1.32% to trade at around $2,627, reflecting a generally bearish trend in the broader crypto market.
Source: The Block
