On July 29, U.S. ethereum ETFs saw net outflows of $983 million, the fourth consecutive day of negative results.
According to data from Farside, the Grayscale Ethereum Trust (ETHE) saw a significant one-day outflow of $210 million. In contrast, the Grayscale Ethereum Mini Trust (ETH) attracted inflows of $4.9 million.
On the other hand, BlackRock’s iShares Ethereum Trust (ETHA) saw inflows of $58.2 million, while Fidelity’s FETH garnered $24.8 million.
Overall, Ethereum ETFs saw outflows of $340 million in the first week of trading ending July 26. Adding in Monday’s outflows brings the total to $440.1 million.
This period was characterized by investor withdrawals from legacy high-fee products converted to exchange-traded funds.
The most significant inflows were into the BlackRock, Bitwise and Fidelity funds, which attracted $500.2 million, $276 million and $244 million, respectively, from launch through July 30.
In contrast, the Grayscale-created Ethereum Trust suffered outflows of $1.723 billion over the same time period.
An Ethereum whale has recently caused a stir by offloading a substantial portion of its holdings, selling over $24 million worth of ETH in the past three days amid significant market pressure.
XRP has been trading within an ascending triangle pattern, signaling a potential significant breakout.
Recent on-chain data for Dogecoin (DOGE) reveals a surge in activity, indicating a growing optimism among cryptocurrency investors towards the popular meme coin.
Commerzbank, one of Germany’s largest financial institutions, is making a significant move into cryptocurrency by offering Bitcoin and Ethereum trading services to its corporate clients.