Negative Trend Continues in US Spot Ethereum Exchange Traded Funds (ETFs) for the Third Day! Here are the Details

Bitget App

Trade smarter

Bitget

News

Bitcoinsistemi2024/07/27 08:09

By:Utku Yanık

US spot Ethereum exchange-traded funds (ETFs) witnessed significant net outflows of $152.3 million on Thursday.

Nine US spot Ethereum exchange-traded funds (ETFs) witnessed significant net outflows of $152.3 million on Thursday, marking the third consecutive day of trading losses. This follows Wednesday's $133 million outflows.

US Spot Ethereum ETFs See $152 Million Net Outflow on Third Day

According to SosoValue data, Grayscale Ethereum Trust (ETHE) was the only fund to record an outflow among Ethereum ETFs, with a net outflow of $346.22 million. Despite this, overall outflows were moderated by inflows from other funds.

BlackRock's ETHA led the entry charge, generating net inflows of $70.93 million. This was followed by Grayscale Ethereum Mini Trust with $58.09 million, Fidelity FETH with $34.32 million, and Bitwise ETHW with a net inflow of $16.34 million.

Related News Billionaire Michael Novogratz's Company Raises $113 Million for a New Crypto Venture Fund!

Additionally, VanEck ETHV recorded a net inflow of $8 million and Invesco's QETH saw $6.24 million. Two other spot Ethereum ETFs managed by Franklin and 21Shares did not report any flows on Thursday.

Total daily trading volume for spot Ethereum funds was approximately $860.8 million on Thursday. This represents a decrease from $1.05 billion on Tuesday and $944.6 million on Wednesday.

In comparison, 11 spot bitcoin ETFs in the US experienced net inflows of $31.16 million on Thursday, following inflows of $44.51 million on Wednesday.

BlackRock's IBIT led the way with a net inflow of $70.75 million, while Grayscale's GBTC saw a net outflow of $39.59 million. The remaining spot bitcoin ETFs reported no flows on Thursday.

*This is not investment advice.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Locked for new tokens.

APR up to 10%. Always on, always get airdrop.

Lock now!

Share link:In this post: The U.S. economy is booming, with inflation cooling, job growth up, and consumer confidence high, putting pressure on the next president to keep things steady. Trump wants tariffs on all imports, big corporate tax cuts, and strict immigration policies, which experts warn could raise prices and hurt American consumers. Harris’s plan includes raising corporate taxes, capping grocery prices, and offering more support for housing and child care, but critics say her policies might hit b

Cryptopolitan•2024/11/03 09:33