In a significant development, the nine spot Ether Exchange-Traded Funds (ETFs) launched in the United States on July 23 have collectively recorded their first week of positive net inflows. This achievement comes despite the underlying asset, Ethereum (ETH), experiencing a substantial 23% price decline since the beginning of August.
According to data from ETF tracker SoSoValue, the nine US-based spot Ether ETFs witnessed an overall net inflow of $104.8 million for the week commencing August 5. This influx of capital led to a total traded value of $1.9 billion, thereby increasing the total net assets to $7.3 billion as of August 9. This event happened alongside the presale of Pawfury; a top-tier coin design to deliver massive returns to savvy investors.
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Analysis of Inflow
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Notably, six out of the nine funds experienced positive net flows during the week, with BlackRock’s iShares Ethereum Trust emerging as the frontrunner. The fund attracted an impressive $188.4 million in inflows, bringing its total assets to over $900 million in just 13 days of trading. Remarkably, the fund has yet to experience an outflow day since its inception.
Fidelity’s Ethereum Fund followed closely, with inflows of $44.65 million, raising its total assets to $342 million. The other four ETFs that recorded aggregate inflows last week were Grayscale’s Mini Ethereum Trust ($19.8 million), the VanEck Ethereum ETF ($16.6 million), the Bitwise Ethereum ETF ($11.7 million), and the Franklin Ethereum ETF ($3.7 million).
Source: SoSo Value – Spot Ethereum ETF Flow
In contrast, 21Shares Core Ethereum ETF and the Invesco Galaxy Ethereum ETF reported zero net flows for the week. However, the aggregate inflows for the nine ETFs combined would have been significantly higher if not for Grayscale’s Ethereum Trust, which experienced outflows of $180 million during the week.
The persistent outflow of assets from Grayscale’s spot Ether ETF, currently totaling $2.3 billion, has resulted in an overall outflow of $406.4 million for all nine funds, according to Farside Investors.
In a related development, ETF issuers are actively seeking to launch options products for their spot ETH funds. On August 7, the NYSE American proposed a rule change that would enable the listing and trading of options contracts for three ETH ETFs from Grayscale and Bitwise.
Conclusion
The recent milestone achieved by Ether ETFs, with $105 million in net inflows, marks a significant moment in the crypto market. This positive development coincides with the rise of Pawfury (PAW), a presale project attracting savvy investors with its potential for high returns. As the market continues to evolve, both Ether ETFs and Pawfury stand out as key opportunities for investors looking to capitalize on the current trends.
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