It’s been a day and a month since Spot Ethereum Exchange Traded Funds (ETFs) launchedwhich marks a significant milestone for the investment assets. In this short period, Spot Ethereum ETFs have experienced fluctuating demand levels, with significant inflows during peak times and reduced market interest at other times.
How Ethereum ETFs Have Performed Since Their Launch
According to facts According to Farside Investors, Spot Ethereum ETFs have seen more outflows than inflows since their launch on July 23. Despite expectations of strong demand and performance, these investment products have recorded a staggering $465 million in outflows.
These outflows have been led by Grayscale’s Ethereum Trust (ETHE), which has led to Grayscale ETF Outflows to eclipse all inflows into Spot Ethereum ETFs. On launch day alone, Grayscale recorded $484.1 million in outflows, marking the highest daily outflow seen in the first month of Spot Ethereum ETF launches.
On the other hand, BlackRock’s iShares Ethereum Trust ETF (ETHS) a total inflow of over $1 billion. Notably, Spot Ethereum ETFs saw their largest single-day inflows since their release on July 23, with BlackRock leading the way with a whopping $266.5 million in inflows.
There are nine in total Spot Ethereum ETFs in the United States (US)mainly BlackRock’s ETHS and Fidelity’s Ethereum Fund (FETH) leading inflow gains. Although Spot Bitcoin ETFs While Ethereum ETFs have been one of the most successful ETF launches in history, Ethereum ETFs have been relatively disappointing performers in comparison.
The decreased demand for Spot Ethereum ETFs may be due to Investors’ preference for Bitcointhe largest and most popular cryptocurrency in the space. Bitcoin’s dominant position in the crypto market is likely fueling the significant increase in demand for its ETF.
On the other hand, Ethereum (ETH) is classified as the largest altcoin, but is generally seen as less dominant than Bitcoin, both in terms of price and overall market influence. Excluding the brief post-launch surge, recent demand for Spot Ethereum ETFs has been unexpectedly low.
Farside Investors reported that since August 15, Ethereum Spot ETFs have mostly recorded outflowswhile BlackRock and several other ETFs have experienced zero flows. This drop in demand underscores the overall weak interest and investor sentiment in these investment products.
Spot Ethereum ETFs Could Cause Breakout for ETH
In a recent X (formerly Twitter) aftercrypto analyst Ted Pillows said that Spot Ethereum ETF outflows could be nearing its end. He highlighted that Ethereum Spot ETFs have been significantly negative in recent days, driven by outflows from Grayscale’s Ethereum ETF.
On the positive side, Pillows has observed a steady decline in outflows from Grayscale’s ETHE. As a result, he suggests that this trend is an impending Ethereum price breakout as the outflow decreases.
Main image from Gadgets 360, chart from TradingView