Spot Ether ETFs See First Week of Positive Net Inflows Since Launch, Despite ETH Price Dump

Six of the nine funds had overall positive net flows for the week, with BlackRock's iShares Ethereum Trust leading the pack with $188.4 million.

Spot Ether ( ETH ) exchange-traded funds (ETFs) in the United States have had their first week of positive net inflows since they launched on July 23.

The nine newly launched US-based spot Ether ETH $2,574 ETFs had positive overall net inflows of $104.8 million for the week beginning Aug. 5, ETF tracker SoSoValue reported.

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It added that $1.9 billion in total value was traded, bringing the total net assets to $7.3 billion as of Aug. 9.

The inflow figure came despite a large price dump for the underlying asset, ETH, which has declined 23% since the beginning of August.

Six of the nine funds had overall positive net flows for the week, with BlackRock’s iShares Ethereum Trust leading the pack with $188.4 million.

The BlackRock fund has now amassed over $900 million in 13 days of trading and has yet to have an outflow day.

Its closest rival, Fidelity’s Ethereum Fund, had $44.65 million in inflows last week, bringing its total to $342 million.

The other four ETFs with aggregate inflows last week were Grayscale’s Mini Ethereum Trust with $19.8 million, the VanEck Ethereum ETF with $16.6 million, the Bitwise Ethereum ETF with $11.7 million, and the Franklin Ethereum ETF with $3.7 million.

21Shares Core Ethereum ETF and the Invesco Galaxy Ethereum ETF had zero net flows for the week.

The aggregate inflows for the nine ETFs combined would have been much higher if Grayscale’s Ethereum Trust hadn't lost $180 million in outflows during the week.

The continued outflow of assets from Grayscale’s spot Ether ETF, currently totaling $2.3 billion, resulted in an overall outflow of $406.4 million for all nine funds, Farside Investors reported.

While the Grayscale trust is included in the ETF net flow data, it is not a spot ETF and trades over-the-counter. Grayscale’s spot Ether ETF is yet to launch.

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Meanwhile, ETF issuers are preparing to launch options products for their spot ETH funds.

On Aug. 7, the NYSE American proposed a rule change that would allow it to list and trade options contracts for three ETH ETFs from Grayscale and Bitwise.

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