It has been over a month since the Ethereum spot ETFs were launched. It was launched.which represents a significant achievement for investment assets. During this short period, Ethereum ETFs It has seen varying levels of demand, with large flows during peak times and low market interest at other moments.
How have Ethereum ETFs performed since their launch?
according to Data According to Farside Investors, Ethereum exchange-traded funds have seen more outflows than inflows since their launch on July 23. Despite expectations of strong demand Thanks to their outstanding performance, these investment products recorded an impressive outflow of $465 million.
Grayscale’s Ethereum Trust (ETHE) led these outflows, causing Grayscale ETF Flows To eclipse all inflows into spot Ethereum ETFs. On launch day alone, Grayscale recorded outflows of $484.1 million, the highest daily outflow recorded in the first month of launching a spot Ethereum ETF.
in contrast, BlackRock’s iShares Ethereum Trust ETF (ETHS) Ethereum exchange-traded funds (ETFs) saw their largest daily inflows since their launch on July 23, with BlackRock leading the way with $266.5 million inflows.
In total, there are nine. Ethereum ETFs in the US Marketprimarily BlackRock’s ETHS Fund and Fidelity’s Ethereum Fund (FETH) leading inflow gains. Although Bitcoin ETFs While ETFs have had one of the most successful launches in history, Ethereum ETFs have had a relatively disappointing performance in comparison.
The decline in demand for Ethereum spot ETFs may stem from Investor Preference for Bitcointhe largest and most popular cryptocurrency in the space. Bitcoin’s dominant position in the cryptocurrency market is likely to drive a significant increase in demand for its exchange-traded fund.
On the other hand, Ethereum (ETH) It is considered the largest altcoin, but is generally viewed as less dominant than Bitcoin, both in terms of price and overall market impact. Except for a brief spike following its launch, recent demand for Ethereum ETFs has been surprisingly low.
Farside Investors reported that since August 15, Ethereum Spot ETFs Mostly Record OutflowsWhile BlackRock and many other ETFs saw zero inflows, this drop in demand underscores the general lack of investor interest and sentiment towards these investment products.
Ethereum ETFs Could Lead to Ethereum’s Strong Rise
In X Talk (formerly Twitter) mailCryptocurrency analyst Ted Bellows said, Outflows from Ethereum ETFs The end of the year may be near. He stressed that over the past few days, Ethereum ETFs have been largely negative, driven by outflows from Grayscale’s Ethereum ETF.
On a positive note, Pillows has observed a steady decline in outflows from Grayscale’s ETHE. As a result, he suggests that this trend could indicate an impending glitch. Ethereum price rise With lower outflows.
Featured image from Gadgets 360, chart from TradingView
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