- Grayscale Ethereum Trust (ETHE) experiences $2.1 billion outflow on August 2.
- Cumulative net outflows from spot Ether ETFs reach $511 million since July 23.
- Other Ether ETFs, like Fidelity Ethereum Fund (FETH), see positive inflows.
The Grayscale Ethereum Trust (ETHE) saw significant outflows amounting to $2.1 billion on August 2, contributing to the total net outflows of over $54 million from spot Ether ETFs on the same day.
Conversely, other Ether ETFs such as the Fidelity Ethereum Fund (FETH) and the Franklin Ethereum ETF (EZET) reported positive inflows, indicating differing investor sentiments within the market.
Ether ETF Market Sees Mixed Investor Sentiments Amid Major Outflows
On August 2, the Grayscale Ethereum Trust (ETHE) experienced a substantial outflow of $2.1 billion, significantly impacting the overall net outflows from spot Ether ETFs, which exceeded $54 million for the day. This large outflow from ETHE, which has been a market staple since 2017, underscores a shift in investor behavior.
Other spot Ether ETFs presented a contrasting trend. The Grayscale Ethereum Mini Trust ETF (ETH) maintained its net inflows at $201 million, showing no outflows. Similarly, the Fidelity Ethereum Fund (FETH) saw a positive net inflow of over $6 million, bringing its cumulative total to $297 million.
The Franklin Ethereum ETF (EZET) also reported positive inflows with a single-day net inflow of just over $1 million. These inflows bring EZET’s total net inflows to $30.6 million, highlighting the varying investor strategies and confidence levels across different funds.
As of August 3, the overall market for spot Ether ETFs had a total net asset value of $8.3 billion, with an ETF net asset ratio of 2.29%. Despite recent outflows, daily net inflows on August 1 were positive, led by BlackRock’s iShares Ethereum Trust (ETHA) with an $89.6 million inflow.
The recent outflows from the Grayscale Ethereum Trust highlight a volatile period for Ether ETFs, despite positive inflows into other funds. This indicates a diverse investor sentiment and strategy within the Ethereum market, underscoring the complexity and dynamism of cryptocurrency investments.
“Markets can remain irrational longer than you can remain solvent.” – John Maynard Keynes
