Ether ETFs See Inflows as ETH Price Crashes; Bitcoin ETFs Experience Outflows

Spot ether exchange-traded funds (ETFs) reported their second-best day of inflows since their July 23 launch on Monday, even as ether (ETHUSD) prices crashed.

Ether (ETHUSD) prices crashed on Monday, dipping below $2,116 and marking a 26% drop from the previous day's high of slightly more than $2,900. The sharp price decline came amid a broader market rout, with bitcoin (BTCUSD) also seeing a price decrease of around 18% and dropping below $50,000 for the first time since February.

However, despite the sharp price decline, spot ether exchange-traded funds (ETFs) saw inflows of $48.8 million on Monday, according to Farside Investors. Almost 96% of the total inflows, or $47.1 million, went into BlackRock's iShares Ethereum Trust ETF (ETHA). Grayscale's Ethereum Trust (ETHE) continued to see outflows, with investors pulling out $46.8 million.

Meanwhile, spot bitcoin ETFs experienced net outflows of $168.4 million, according to Farside Investors. Investors pulled money out of three funds—Fidelity's Wise Origin Bitcoin Fund (FBTC), ARK 21Shares Bitcoin ETF (ARKB), and Grayscale's Bitcoin Mini Trust—while other products showed zero net flows.

On Tuesday, the price of bitcoin rebounded to nearly $57,000, while ether traded close to $2,500.

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