Spot Ether ETFs Record Longest Outflow Streak Since Inception
Ruholamin Haqshanas is a contributing crypto writer for CryptoNews. He is a crypto and finance journalist with over four years of experience. Ruholamin has been featured in several high-profile crypto...
Spot Ether exchange-traded funds (ETFs) in the United States have experienced their longest streak of outflows since their inception on July 23.
For five consecutive days, from August 15 to August 21, ETH ETFs saw outflows, which reached a total of $92.2 million, according to Farside Investors data.
The outflows have been largely attributed to the Grayscale Ethereum Trust (ETHE), which saw $158.6 million in withdrawals during the same period.
Grayscale outflows have overshadowed the inflows into other recently approved spot Ether ETFs, including BlackRock’s iShares Ethereum Trust ETF (ETHA), the Fidelity Ethereum Fund (FETH), and the Bitwise Ethereum ETF (ETHW).
For one, ETHA managed to become the first spot Ether ETF to surpass $1 billion in net inflows on August 20, providing a slight cushion against the overall negative trend.
The Grayscale Ethereum Mini Trust (ETH), however, has bucked the trend, reporting no outflows since its launch and maintaining positive net flows of $231.9 million.
On August 21, the total net outflow of Ethereum spot ETFs was $17.9688 million. Grayscale ETF ETHE had an outflow of $31.1431 million, Fidelity ETF FETH had an inflow of $7.9286 million, and Grayscale mini ETF ETH had an inflow of $4.2422 million. https://t.co/Tvs2oCSxTg
Meanwhile, the longest outflow streak comes after spot ETH ETFs experienced positive net inflows for the first time earlier this month.
At the time, the nine spot Ether ETFs recorded a combined net inflow of $104.8 million during the week starting on August 5.
They also
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