Over $79 million was withdrawn from nine US spot Ethereum ETFs on Monday, the largest single-day outflow since July 29, according to data tracked by Farside Investors.
Key Takeaways
* A total of nine US spot Ethereum ETFs saw outflows on Monday, with over $79 million being withdrawn.
* Grayscale’s Ethereum Trust (ETHE) led redemptions with over $80 million in outflows.
* Monday’s outflows marked the largest single-day outflows for these ETFs since July 29.
* Despite the outflows, ETHE remains the largest Ether fund globally with about $4.6 billion in assets under management.
* Outflows from ETHE since its ETF conversion now stand at over $2.8 billion.
* The outflows ended a brief two-day gain for the ETFs, with only the Bitwise Ethereum ETF (ETHW) seeing inflows on Monday.
* Most of the competing funds saw zero flows, while Bitwise’s ETF saw investors buy over $1 million in shares.
* ETHW’s net buying stood at over $320 million as of September 23, with its Ether holdings exceeding 97,700, valued at about $261 million at current prices.
* Demand for the US-listed Ethereum ETFs has remained weak since their launch on July 23.
* BlackRock’s iShares Ethereum Trust (ETHA) currently leads in net inflows and was the first to reach $1 billion in net capital.
* It is followed by Fidelity’s Ethereum Fund (FETH) and Bitwise’s ETHW.
* While the Ethereum ETFs faced a downturn, their Bitcoin counterparts enjoyed a third consecutive day of gains, collectively adding $4.5 million, according to Farside’s data.
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