BlackRock Leads Ethereum ETFs with $188.4M Inflow as Ether Price Drops 23%

The US spot Ethereum ETFs recorded their first positive net inflows since their inception on 23 July 2021. The nine newly launched spot Ether ETFs saw a total net inflow of $104.8 million for the week starting August 5.

The US spot Ether ETFs saw their first positive net inflows since their launch on 23 July 2021. For the week beginning August 5, the nine newly launched spot Ether ETFs saw a total net inflow of $104.8 million. This inflow occurred despite Ether prices falling by 23% since the beginning of August.

BlackRock Leads Ethereum ETFs with $188.4M Inflow

The largest inflows went to BlackRock's iShares Ethereum Trust (ET), which attracted $188.4 million in inflows. The fund raised over $900 million in the first 13 days, with no days of outflow. Fidelity Ethereum Fund (FETH) was second, with $44.65 million in inflows, bringing the total to $342 million.

Another source also helped to boost the inflow. Grayscale Mini Ethereum Trust (ETH) gathered $19.8 million, while VanEck Ethereum Trust (ETHV) gathered $16.6 million. Other entries on the list include Bitwise's Ethereum ETF (ETHW) and Franklin's Ethereum ETF (EZET), which received $11.7m and $3.7m, respectively, in fresh inflows.

Grayscale Ethereum Trust Sees $180 Million Outflow

However, while the overall trend was positive, Grayscale's Ethereum Trust (ETHE) saw outflows of $180 million during the same week. This brought the total net asset value down for all nine funds, with a net outflow of $406.4 million. As of August 9, the net asset value of the nine ETFs stood at $7.3 billion, highlighting the varying fortunes of the different funds.

At the same time, the 21Shares Core Ethereum ETF (CETH) and the Invesco Galaxy Ethereum ETF (QETH) had no net inflows or outflows. Thus, the lack of directional movement in either direction points to a divergence in investor sentiment across the various Ethereum-linked ETFs.

ETF Providers Eye Ethereum Options Market Expansion

To further capitalize on the prospects of the market, ETF providers are planning to launch options products linked to their physical Ethereum-based feeder funds. On August 7, NYSE American LLC filed a rule change request to list options contracts for three ETH ETFs from Grayscale and Bitwise. This move could provide investors with a wider range of strategies for managing Ether price risk.

The inflows into Ethereum ETFs came at a time when Ether, the native token of the Ethereum network, has seen better days, posting substantial price drops. Despite this, investors continue to pour money into these ETFs, suggesting a longer-term vision for Ethereum. It also serves as a testament to the volatility of the cryptocurrency market and the fluidity of investor behavior.

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