Spot Ethereum ETFs in the US See Positive Inflows Led by BlackRock’s iShares Ethereum Trust

• The newly launched spot Ethereum exchange-traded funds (ETFs) in the U.S. have marked their first net positive week since their debut on July 23.
• According to SoSoValue data, as of the week ending August 5, nine spot Ethereum ETFs in the U.S. saw net inflows totaling $104.8 million.
• Throughout that week, $1.9 billion worth of transactions were conducted, taking the total net asset value to $7.3 billion.

Discover how newly launched U.S. spot Ethereum ETFs have performed in their first net positive week, emphasizing their significant inflows and leading market players.

Spot Ethereum ETFs Register First Net Positive Week

The Ethereum market has seen positive momentum with the recent launch of spot ETFs. For the week ending August 5, these funds recorded a net inflow of $104.8 million, the first notable gain since their introduction on July 23. This positive trajectory underscores growing investor confidence in Ethereum’s long-term potential.

BlackRock Leads the Pack

Of the nine available spot Ethereum ETFs, six concluded the week on a positive note. BlackRock’s iShares Ethereum Trust emerged as the frontrunner, attracting $188.4 million in net inflows. Over a 13-day trading period, this fund accumulated assets exceeding $900 million without experiencing a single negative day. This consistent performance emphasizes BlackRock’s strong market position and investor trust.

Other Notable Contributors

Following BlackRock, Fidelity’s Ethereum fund attracted $44.6 million in the past week, raising its total to $342 million. Additionally, Grayscale’s Mini Ethereum Trust, VanEck Ethereum ETF, Bitwise Ethereum ETF, and Franklin Ethereum ETF reported inflows of $19.8 million, $16.6 million, $11.7 million, and $3.7 million, respectively. On the contrary, 21Shares Core Ethereum ETF and Invesco Galaxy Ethereum ETF reported no net inflows for the week.

Grayscale’s Main Ethereum Trust Faces Outflows

Despite the overall positive performance among new spot ETFs, Grayscale’s main Ethereum Trust experienced significant outflows amounting to $180 million. According to Farside Investors data, the Grayscale fund has seen cumulative outflows totaling $2.3 billion to date. This outflow highlights the mixed sentiments among investors regarding the established trust versus newly launched ETFs.

Market Reaction and Future Outlook

While Ethereum funds demonstrated a positive week overall, the crypto market kicked off the week on a bearish note, leading to net outflows exceeding $15 million on Friday. Ethereum is currently trading at $2,577. The fluctuating market conditions suggest a cautious yet optimistic outlook for Ethereum ETFs as investors navigate through volatility and seek long-term gains.

Conclusion

The entry of spot Ethereum ETFs in the U.S. has marked a milestone with their first net positive week. BlackRock’s dominant performance and significant inflows into other funds signal increasing investor interest. However, the substantial outflows from Grayscale’s primary Ethereum Trust indicate a cautious approach from established investors. Moving forward, market participants will keenly observe these trends, balancing optimism with strategic positioning in Ethereum instruments.