Spot Ethereum ETF Weekly Flows: A Tale of Two Halves

ETFs experienced significant activity over the past week. These products recorded both substantial inflows and outflows, leading to a mixed sentiment in the market. The cumulative net inflow into spot Ethereum ETFs reached nearly $105 million by the end of the week owing to the strong start. Hence, it sparked discussions on the potential for Ethereum (ETH) to push towards the $3,000 mark.

Spot Ethereum ETFs experienced significant activity over the past week. These products recorded both substantial inflows and outflows, leading to a mixed sentiment in the market. The cumulative net inflow into spot Ethereum ETFs reached nearly $105 million by the end of the week owing to the strong start. Hence, it sparked discussions on the potential for Ethereum (ETH) to push towards the $3,000 mark.

A Look At Spot Ethereum ETF Weekly Flows

On Monday, August 5, spot Ethereum ETFs began the week on a positive note with net inflows totaling $48.8 million. BlackRock led the market, securing $47.1 million of these inflows. Fidelity and VanEck followed with $16.2 million and $16.6 million, respectively.

However, Grayscale’s Ethereum Trust (ETHE) experienced significant outflows of $46.8 million, while its smaller Ethereum ETF saw modest inflows of $7.6 million. This resulted in a mixed start for the week, reflecting the varying sentiment among investors.

Nonetheless, the positive momentum continued on Tuesday, August 6, as Ether ETFs recorded $98.4 million in inflows. BlackRock again dominated, attracting a whopping $109.9 million in new investments. Moreover, Fidelity also performed well, bringing in $22.5 million.

Conversely, ETHE continued to struggle, with outflows reaching $39.7 million. The strong inflows on Tuesday provided a boost to the overall market sentiment, but the persistent outflows from Grayscale’s ETHE suggested caution.

The Outflow Trend Emerges

Midweek saw a shift in the trend. On Wednesday, August 7, the total net outflow for spot Ethereum ETFs amounted to $23.7 million. Grayscale’s ETHE faced an outflow of $31.9 million, overshadowing the modest inflow of $4.7 million into Fidelity’s ETH ETF. This reversal marked a turning point in the week, highlighting volatility.

On Thursday, August 8, the market continued to see outflows, although at a reduced pace. The total net outflow for Ether ETFs was $2.9 million. Grayscale’s ETHE led the outflows with $19.8 million, while its mini Ethereum ETF managed to attract $5 million in new investments.

BlackRock’s ETH ETF also saw positive inflows of $11.7 million, partially offsetting the broader trend of outflows. However, analysts from QCP Capital predicted further outflows from Grayscale’s ETHE in the coming week.

The above is the detailed content of Spot Ethereum ETF Weekly Flows: A Tale of Two Halves. For more information, please follow other related articles on the PHP Chinese website!