- Ether ETFs have reversed a three-day positive streak.
- Investors pulled tens of millions from the funds on Thursday.
- Meanwhile, spot Bitcoin ETFs recorded mild inflows.
U.S.-listed spot Ethereum exchange-traded funds (ETFs) seem to have fallen out of favor with investors as on Thursday, tens of millions left the funds.
The development marks a reversal trend for Ether ETFs, which recently fared better with a record positive inflow streak. Prior to this sudden pause, for the first time since their launch, the funds witnessed three days of consecutive inflows totaling $40.04 million.
Ether ETF Reversal Trend
According to SoSoValue data, the nine U.S.-based spot Ether ETFs recorded $31.29 million in net outflows on August 15, despite witnessing a relatively higher trading volume than in the previous two days. Thursday’s trading volume stood at $240.58 million, slightly improving from $155.91 million on Wednesday and $190.76 million on Tuesday.
Sponsored
Grayscale’s ETHE reported the only outflow on August 15 as investors pulled $42.5 million from the fund. Outflows from this fund since it began trading on July 23 have totaled $2.39 billion.
Fidelity’s FETH and BlackRock’s ETHA stole the show on Thursday as the only funds with a positive inflow. FETH and ETHA attracted $2.54 million and $770,130 respectively, while the remaining funds posted zero flows. Notably, 21Share’s CETH extended its zero-flow streak to an eleventh consecutive day.
In stark contrast to Ethereum, spot Bitcoin ETFs witnessed moderate inflows on Thursday as investors poured $36.1 million into three funds, as shown through Farside Investors‘ preliminary data. This included Fidelity’s FBTC, Grayscale’s Mini Trust BTC, and Bitwise’s BITB.
Grayscale’s GBTC overshadowed the inflows with $25 million outflows, bringing the day’s total net inflow to $11.1 million.
Read about BlackRock’s growing dominance in the Bitcoin ETF scene:
Bitcoin ETF Inflows Stumble While BlackRock’s Dominance Grows
Stay updated on Metaplanet’s latest Bitcoin acquisition:
Metaplanet Bolsters Bitcoin Holdings with Additional $3.3M BTC Purchase