On July 29, nine spot Ethereum exchange-traded funds (ETFs) based in the US recorded a combined outflow of $98.29 million. This marked the fourth consecutive day of negative flow for these funds. Data from SosoValue highlighted that Grayscale Ethereum Trust (ETHE) saw a significant net outflow of $210.04 million, making it the only Ethereum fund to experience an outflow on that day.
Ethereum ETF Funds Status
Since the initial outflow on July 23, Grayscale Ethereum Trust has continuously faced daily outflows amounting to hundreds of millions. Among the funds experiencing net inflows, BlackRock’s ETHA fund led with $58.17 million, followed by Fidelity’s FETH with $24.82 million, VanEck’s ETHV with $10.91 million, and Bitwise’s ETHW with $10.45 million.
Additionally, the Grayscale Ethereum Mini Trust recorded a net inflow of $4.9 million, while Franklin’s EZET fund saw $2.52 million in net inflows. However, two other spot Ethereum ETF funds managed by Invesco and 21Shares showed no activity on July 29.
What is Happening with Bitcoin ETF Funds?
On the same day, 11 US-traded spot Bitcoin ETF funds experienced a net inflow of $124.13 million. BlackRock’s IBIT fund stood out with a net inflow of $205.62 million, being the only Bitcoin fund to record a positive net inflow.
In contrast, the Grayscale GBTC fund saw a net outflow of $54.29 million, Bitwise’s BITB fund experienced a net outflow of $21.3 million, and Fidelity’s FBTC fund registered a net outflow of $5.89 million. The total trading volume for spot Bitcoin ETF funds rose to $2.68 billion on July 29, up from $2.04 billion on July 26 and $1.51 billion on July 25.
Key Takeaways for Investors
– BlackRock’s ETHA fund saw the highest net inflows among Ethereum ETFs.
– Grayscale Ethereum Trust continued its streak of daily outflows since July 23.
– BlackRock’s IBIT was the only Bitcoin ETF with positive net inflows on July 29.
– Total trading volumes for both Ethereum and Bitcoin ETFs fluctuated significantly within the same period.
The recent volatility in the crypto market, driven by the US Presidential Elections and macroeconomic data, significantly impacted ETF funds. Additionally, financial reports from US companies have contributed to a decline in riskier investment products.
