US spot Ethereum ETFs see largest outflows since late July
2024-09-24

U.S. spot Ethereum exchange-traded funds recorded net outflows of $79.21 million on Monday, marking their largest daily outflows since July 29.
The Grayscale Ethereum Trust (ETHE) saw $80.55 million flow out of the fund on Monday, representing its largest outflow since July 31, according to Sosovalue data. It was the only spot ether ETF to record outflows yesterday.
Bitwise’s ETHW reported net inflows of $1.34 million, while the seven other spot ether ETFs logged zero flows.
The total trading volume of these nine ETFs reached $167.35 million on Monday, up from $139.47 million on Friday.
Bitcoin ETFs saw modest inflows
Meanwhile, spot bitcoin ETFs in the U.S. recorded net inflows of $4.56 million on Monday, extending their streak of inflows to three days.
Fidelity’s FBTC saw the largest inflows among the ETFs, with $24.93 million flowing into the product. BlackRock’s IBIT, the largest spot bitcoin ETF by net assets, experienced $11.54 million in net inflows, and Grayscale’s BTC logged inflows of $8.42 million.
Grayscale’s GBTC reported $40.33 million in net outflows after recording no flows during the previous two trading days. GBTC was the only spot bitcoin ETF to see outflows on Monday.
The 12 spot bitcoin ETFs’ total trading volume shrank to $949.72 million on Monday, compared to $980.57 million on Friday.
The price of bitcoin dipped 1.1% over the past 24 hours to $63,122, while ether slid 1.32% to trade at around $2,627, according to The Block’s price page.
Disclaimer: The Block is an independent media outlet that delivers news, research, and data. As of November 2023, Foresight Ventures is a majority investor of The Block. Foresight Ventures invests in other companies in the crypto space. Crypto exchange Bitget is an anchor LP for Foresight Ventures. The Block continues to operate independently to deliver objective, impactful, and timely information about the crypto industry. Here are our current financial disclosures.
© 2024 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.