Ethereum ETFs Experience $5.8M Net Inflow After Nine-Day Outflow Streak
Ethereum spot exchange-traded funds (ETFs) have experienced a net inflow of $5.8 million following nine days of net withdrawals, indicating a favorable turn in the market. SoSoValue data shows that BlackRock’s ETHA ETF was the top performer among the notables, with a noteworthy inflow of $8.4 million. An additional $1.3 million was given by Fidelity’s FETH ETF.
In contrast, despite the overall increase in net flows, Grayscale’s ETHE ETF saw an outflow of $3.8 million, indicating ongoing selling pressure.
Longest Outflow Streak Ends
The current outflow run, which was the longest since these funds were first established, had lasted for nine days. This prolonged outflow period has produced a net flow of almost $500 million for Ethereum ETFs in the first five weeks of their existence.
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JP Morgan analysts had predicted that Ethereum ETFs would perform worse than Bitcoin ETFs due to lower liquidity and the lack of staking. Grayscale’s ETHE outflows were significantly higher than anticipated, which sparked conversations about the possibility of introducing a combined Bitcoin and Ethereum spot ETF.
On the other hand, Bitcoin spot ETFs encountered difficulties as well; on Wednesday, a $105 million net outflow was recorded. There were withdrawals of $7.98 million from Grayscale’s GBTC, $8.77 million from Grayscale’s mini ETF BTC, and $59.27 million from ARKB.
BlackRock Expands with Ethereum ETF Launch in Brazil
With the launch of its Ethereum ETF on August 28 on Brazil’s stock exchange, B3, BlackRock has expanded its cryptocurrency offerings globally. Retail and institutional investors can purchase the ETF, which trades under the ticker ETHA39.
The BlackRock iShares Ethereum Trust (ETHA) will be priced for the Brazilian market at a third of its original value, making it more affordable for local investors. Management fees will remain at 0.25% annually for the first year, or until the fund reaches $2.5 billion in assets under management.
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This launch comes after BlackRock’s previous debut of the fastest-growing ETF in history, the iShares Bitcoin Trust, in Brazil. Brazil is still at the forefront of allowing cryptocurrency-related products on its stock exchange, and soon it will introduce the first Solana-based exchange-traded fund (ETF) globally.
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