U.S. Ethereum ETFs See $133 Million in Outflows

The nine U.S. spot Ethereum exchange-traded funds recorded $133.16 million in net outflows on Wednesday, their second trading day, reversing the prior day’s positive flows.

Grayscale Ethereum Trust Outflows

The Grayscale Ethereum Trust (ETHE) faced significant outflows, losing $326.86 million, being the only ether fund not performing positively, according to SosoValue data.

Leading Inflows

Fidelity’s FETH led the inflows with $74.46 million, followed closely by:
– Grayscale Ethereum Mini Trust: $45.93 million
– Bitwise ETHW: $29.64 million
– VanEck ETHV: $19.84 million

BlackRock’s ETHA received $17.44 million in net inflows, a decrease from the previous day’s $266.55 million inflows.

Trading Volume

Spot ether ETFs generated approximately $951 million in trading volume on Wednesday, down from $1.05 billion on their first trading day, according to Yahoo Finance data compiled by The Block Pro Research. On Tuesday, the funds recorded about $106.78 million in net inflows.

Spot Bitcoin ETFs

In contrast, the 11 spot bitcoin ETFs in the U.S. observed approximately $44.51 million in inflows on Wednesday. Grayscale’s GBTC was the only bitcoin ETF with outflows, totaling $26.22 million.

Top Bitcoin Funds

Among the bitcoin funds:
– BlackRock’s IBIT led with $65.99 million in inflows.
– Ark and 21Shares ARKB gained $3.29 million.
– Fidelity FBTC saw $1.44 million.

Market Update

Ether’s price dropped 8.24%, trading at around $3,158, while Bitcoin fell 3%, trading at $63,901 amid ongoing investor concerns over Mt. Gox’s transfers and macro developments.

Stock Market Performance

The U.S. stock market reached multi-week lows on Wednesday, with the Nasdaq Composite index down 3.6%, marking its worst day since October 2022. The S&P 500 index fell 2.3%, experiencing its worst day since December 2022.