For the first time since their launch on July 23, U.S.-based spot Ether exchange-traded funds (ETFs) have seen positive net inflows. According to data from ETF tracker SoSoValue, the nine newly introduced spot Ether ETFs collectively attracted net inflows of $104.8 million during the week starting August 5, despite a significant drop in Ether’s price.
The total trading volume for these ETFs reached $1.9 billion, bringing their combined net assets to $7.3 billion as of August 9. This positive inflow occurred even as ETH, the underlying asset, suffered a 23% decline in value since the start of August.
Among the nine ETFs, BlackRock’s iShares Ethereum Trust led with $188.4 million in net inflows, pushing its total to over $900 million within just 13 days of trading. Notably, the BlackRock fund has not experienced a single outflow day since its inception.
Fidelity's Ethereum Fund followed closely, recording $44.65 million in inflows last week, raising its total assets under management to $342 million.
Other funds that saw positive net inflows included:
While six of the nine funds recorded positive net flows, not all performed equally. The 21Shares Core Ethereum ETF and the Invesco Galaxy Ethereum ETF both reported zero net flows for the week. However, despite the overall positive trend, Grayscale’s main Ethereum Trust experienced significant outflows, losing $180 million during the same period.
According to Farside Investors, this continued outflow from Grayscale's spot Ether ETF, which now totals $2.3 billion, has contributed to an overall net outflow of $406.4 million across all nine funds.
In light of these developments, ETF issuers are progressing with plans to launch options products for their spot ETH funds. On August 7, the NYSE American proposed a rule change to permit the listing and trading of options contracts for three ETH ETFs, signaling potential.
This marked week of positive inflows suggests a renewed interest in Ether ETFs, despite the challenging market conditions for the underlying asset. As the market evolves, investors and analysts alike will be closely monitoring the performance and reception of these ETFs.
