Spot Ethereum ETFs end nine-day outflow streak with $5.8 million in net inflows

Spot Ethereum ETH +3.54% exchange-traded funds in the U.S. reported daily net inflows of $5.84 million on Wednesday, ending a nine-day streak of outflows.

The Grayscale Ethereum Trust (ETHE) recorded a daily net outflow of $3.81 million, countered by inflows of $8.4 million into BlackRock’s spot ether fund and $1.26 million into Fidelity’s FETH, SoSoValue data showed.

The nine spot ether ETFs saw $151.57 million in trading volume on Wednesday, remaining significantly lower than late July’s volumes of around $900 million when they first started trading. The funds have accumulated total net outflows of $475.48 million.

Spot bitcoin ETFs continued to record outflows

Meanwhile, spot bitcoin ETFs in the U.S. extended their net outflows on Wednesday, reporting $105.19 million.

Ark and 21Shares’ ARKB led the outflows with $59.27 million. Fidelity’s FBTC saw outflows of $10.37 million, and VanEck’s fund recorded $10.07 million in outflows.

Bitwise’s BITB, Grayscale’s mini bitcoin trust and Grayscale's GBTC also reported net outflows of around $8 million. BlackRock’s IBIT, the largest spot bitcoin ETF by net assets, and five other bitcoin ETFs reported zero flows for the day.

The U.S. spot bitcoin funds saw a total trading volume of $2.18 billion on Wednesday, compared to $1.2 billion on Tuesday. Since January, they have accumulated $17.85 billion in net inflows.

Bitcoin BTC +0.81%  traded down 0.21% over the past 24 hours to $59,369, while ether gained 2.25% to change hands at $2,537 at the time of writing, according to The Block's price page.