Ethereum ETFs Entered August With Positive Results

U.S. based spot Ethereum (ETH) exchange traded funds (ETFs) posted positive results on Aug. 1, although Grayscale's ETHE saw outflows equal to $78 million for the day.

On Thursday, these ETFs recorded total net inflows of $26.7 million, with BlackRock’s iShares Ethereum Trust (ETHA) leading the way with $89.6 million raised.

Bitwise’s ETHW and Fidelity’s FETH attracted $3.4 million, $11.7 million, respectively.

Unlike the other eight Ethereum spot ETFs, which launched as new funds, ETHE was originally a trust that provided institutional investors with exposure.

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Prior to its conversion, ETHE managed $9 billion worth of Etherеum. As of August 1, outflows exceeded 22% ($2.055 billion) of the original fund.

In contrast, the Grayscale Ethereum Mini Trust (ETH) reported neither inflows nor outflows.

Overall, the most significant inflows since inception have been recorded by the BlackRock, Bitwise and Fidelity funds, which have attracted $712.8 million, $287.9 million and $291.1 million, respectively, since launch through August 1.

Kosta Gushterov

Kosta has been working in the crypto industry for over 4 years. He strives to present different perspectives on a given topic and enjoys the sector for its transparency and dynamism. In his work, he focuses on balanced coverage of events and developments in the crypto space, providing information to his readers from a neutral perspective.