Lawrence Damilola
Investor appetite for exposure to Ether through exchange-traded funds (ETFs) showed no signs of cooling in the week ending August 5, as nine newly launched spot Ether ETFs collectively raked in $104.8 million in net inflows.
Data from Arkham Intel revealed that the inflows were primarily driven by Blackrock, which accumulated $168.55 million worth of ETH. During the week beginning Aug. 5, nine newly launched spot Ether ETFs saw net inflows of $104.8 million.
Notably, on Aug. 7, Blackrock achieved its highest daily on-chain inflow, receiving $108.02 million in ETH in a single day. The fund has gathered over $900 million in assets within its first 13 days of trading and has yet to experience any outflow days since its launch. This development occurred despite a 23% decline in the price of Ether (ETH) since the beginning of August.
Other Ether ETFs Register Inflows as Trading Volume Increases
Other funds contributing to the positive net flows included Fidelity’s Ethereum Fund, which recorded $44.65 million in inflows, and Grayscale’s Mini Ethereum Trust, which saw $19.8 million in inflows. Additional positive contributions came from the VanEck Ethereum ETF, which received $16.6 million, the Bitwise Ethereum ETF, which received $11.7 million, and the Franklin Ethereum ETF, which received $3.7 million.
The overall trading volume for spot Ethereum ETFs reached $286 million on Monday — an increase from $166.9 million from last Friday.
Also, Grayscale’s Ethereum Trust, which recently converted into a spot ETF, recorded its first day without outflows on Monday.
The nine spot Etherereum ETFs that have captured investor attention began trading on July 23, marking a significant milestone for the cryptocurrency industry. This launch followed the approval of spot Bitcoin ETFs earlier in the year and solidified the growing acceptance of digital assets within traditional financial markets.
Meanwhile, companies that issue ETFs are actively working to introduce options products for their existing spot Ethereum funds. The Ether ETF market is also seeing developments in options trading, with the NYSE American proposing a rule change to allow the listing and trading options contracts for three Ether ETFs from Grayscale and Bitwise.
Read More
- $90K Oooops: Shibarium Offers Gas Fee That Doesn’t Break The Bank
- Can a Community’s Faith Make Kendu the First $100B Memecoin?
- Exclusive- Hoichi’s Torii Gateway Bridges Nearly 500K BONE to Shibarium: A Quantum Leap for Interoperability
Lawrence does not hold any crypto asset. This article is provided for informational purposes only and should not be construed as financial advice. The Shib Magazine and The Shib Daily are the official media and publications of the Shiba Inu cryptocurrency project. Readers are encouraged to conduct their own research and consult with a qualified financial adviser before making any investment decisions.
