The nine US spot Ethereum Exchange Traded Funds ended their three-day positive inflow streak on Thursday with $39 million leaving the funds.
Prior to yesterday, the Ethereum ETF products recorded positive inflows for three consecutive days pulling in $10.8 million, $24.3 million, and $5.0 million respectively.
According to data from Farside Investors UK, Grayscale Ethereum Trust (ETHE) continued to experience outflows, with $42.52 million exiting the fund. It was the only Ethereum ETF product to experience an outflow.
The Grayscale Ethereum Mini Trust (ETH), the second-largest spot ether ETF by net assets, reported no flows on Thursday alongside other ETF products like Franklin Templeton, Bitwise, and Ark 21 shares.
Fidelity’s FETH recorded net inflows of $2.54 million, and BlackRock’s ETHA saw $770,350 one of its lowest inflow incomes flowing into the fund.
On Thursday, the total daily volume of the nine ETFs reached $240.58 million, much higher than $155.91 million on Wednesday and $190.76 million on Tuesday.
Ethereum Price Analysis
At the moment Ethereum is exchanging hands for $2,576 dropping by 2.6% in the last 24 hours with a maximum price of $2,674 and a minimum price of $2,532.
The crypto asset is down 47.4% from its all-time high
Bitcoin ETFs pull in $11.11 million in inflows
On the side of Bitcoin ETFs, the 12 spot Bitcoin ETFs in the U.S. recorded moderate inflows of $11.11 million on Thursday, compared to net outflows of $81.36 million the day before.
According to Farside Investors Data UK, Fidelity’s FBTC witnessed the largest inflows of the day, with $16.25 million. The Grayscale Mini Trust (BTC -0.65%) followed with $13.66 million in net inflows, and Bitwise’s BITB recorded inflows of $6.23 million.
Grayscale’s GBTC was the only ETF to report negative flow for the day with $25.03 million leaving the fund. This extended its outflow streak to the 11th day since the ETF products launched.
Other Bitcoin ETF products recorded zero activity for the day.
The total trading volume of these 12 spot bitcoin ETFs amounted to $1.79 billion on Thursday, compared to $1.3 billion on Wednesday.
Bitcoin Price Analysis
Bitcoin at the moment is exchanging hands for $58,072 dropping by 1.5% in the last 24 hours with a maximum price of $59,833 and minimum price of $56,646.
The crypto asset is down 21.5% from its all-time high of $73,737
What to Know
- Bitcoin and Ethereum ETFs are the biggest factors in the price change of Bitcoin and Ethereum since they launched.
- Bitcoin ETF was launched in January while Ethereum ETF was launched in July.