Ethereum ETFs Registered a Second Consecutive Day of Negative Results
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After the US-based spot Etherium ETFs registered an outflow of $133.3 million on their second day of trading, they continued their negative performance on July 25.
While the overall results were negative 7 out of all 8 newly launched ETFs registered positive or neutral results with BlackRock’s ETHA leading the way, attracting $70.9 million.
Fidelity’s FETH and Bitwise’s ETHW ranked second and third with $34.3 million and $16.3 million respectively.
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The overall negative outflows appear to be due to significant sales from the recently converted Grayscale Ethereum Trust (ETHE), which saw outflows of $346.2 million, registering its third day of negative results.
On the other hand, Grayscale Mini Trust (ETH) recorded $58.1 million in inflows.
In the three days following its conversion, ETHE experienced outflows totaling $1.157 billion, and total outflows for the day reached $152.4 million.
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