Spot Ethereum ETF records outflows worth $39 million ending a 3-day inflow streak

U.S. spot Ethereum ETFs emerged in the spotlight after registering net outflows on Thursday for the first time this week. The funds registered net outflows worth $39 million. On the other hand, Bitcoin ETFs recorded inflows worth $11.1 million.

Ethereum exchange-traded funds (ETFs) recorded outflows for the first time in three days. The three-day positive flow streak was cut short on Thursday, August 15th, when the funds saw net outflows worth $39.21 million. 

According to data from Sosovalue, activity occurred on three out of the nine Ethereum funds: Grayscale’s ETF ETHE, BlackRock’s ETF ETHA, and Fidelity’s ETF FETH.

Grayscale’s ETHE Ethereum ETF continues its outflow streak

Grayscale’s ETF ETHE is the only Ethereum fund that registered outflows. The fund saw $42.52 million in outflows on Thursday. On Wednesday, it also registered outflows worth $16.95 million despite Ethereum ETFs recording net inflows worth $10.77 million.

On the other hand, BlackRock’s ETHA and Fidelity’s FETH recorded net positive flows. ETHA registered $770.35k in inflows, while FETH recorded $2.54 million in inflows. ETHA ETF registered the highest inflows on Wednesday, settling at $16.13 million. Fidelity also recorded positive flows worth $6.65 million on Wednesday.

Grayscale’s Ethereum Mini Trust (ETH), Bitwise’s ETHW, VanEck’s ETHV, Franklin’s EZET, Invesco’s QETH, and 21Shares’ CETH had zero flows on Thursday. 

Cumulatively, the spot Ethereum funds traded a total value of $240.58 million as of August 15. Thursday’s flows brought the total net Ethereum assets under ETFs to $7.16 billion, which accounts for 2.33% of Ethereum’s market cap.

Spot Bitcoin ETFs experience net inflows worth $11 million

While spot Ethereum ETFs saw outflows on Thursday, Bitcoin ETFs recorded inflows worth $11.11 million, according to data from Sosovalue. Bitcoin ETFs seem to have made a recovery after experiencing $81.36 million in outflows on Wednesday.

BlackRock’s IBIT, the largest spot Bitcoin fund by net assets under management, did not register any flows on Thursday. The fund had registered inflows worth $2.68 million on Wednesday and $34 million on Tuesday. 

Grayscale’s GBTC was the only ETF that reported net outflows. The ETF saw $25.03 million leave the fund, extending its outflow streak to the 11th consecutive day. Fidelity’s FBTC recorded the most inflows, which settled at $16.25 million, compared to its outflows, which were worth  $18.05 million the previous day. 

Bitwise’s BITB and Grayscale’s BTC also registered positive flows worth $6.23 million and $13.66 million respectively. On Wednesday, BITB registered outflows worth $5.78 million, while BTC recorded zero flows on the same day. 

Cumulatively, spot Bitcoin ETFs traded a total volume of $1.79 billion. The funds hold total net assets worth $51.99 billion, which accounts for 4.65% of the assets underlying market cap.

According to Coinmarketcap, Bitcoin is currently trading at $58,470.35 and has shed 4.15% in the last seven days. Ethereum currently retails at $2,621.24 and has shed close to 2% in the last seven days.

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