Spot Ethereum (ETH) exchange-traded funds (ETFs) in the United States saw $5.9 million in net inflows on August 28 after nine consecutive days of outflows, according to data from Farside Investors.
Grayscale Ethereum Trust (ETHE) saw $3.8 million in outflows yesterday, the smallest amount of money leaving the fund since the launch of spot Ether ETFs in the United States on July 23.
Additionally, BlackRock’s iShares Ethereum Trust ETF (ETHA) saw $8.4 million in inflows, the first sign of fund flows after five days of no-action trading. The Fidelity Ethereum Fund (FETH) added $1.3 million to inflows, rounding out the positive day.
ETHA has not recorded a single day of outflows since its launch, despite neutral flows on nine out of 27 trading days.
Meanwhile, the ETHE outflow frenzy may be calming down, as the amount of capital leaving the fund has been gradually decreasing since August 22.
More than $2 billion in revenues
Since their launch, U.S.-traded Ethereum ETFs have seen negative net flows of $475.7 million. However, excluding the $2.55 billion in ETHE outflows, these funds have already surpassed $2 billion in inflows in just 27 trading days.
According to ETF Store CEO Nate Geraci, if the cumulative value of Ethereum ETFs is considered as a single product, it would amount to the fourth-largest ETF launch to date.
It is worth noting that the “super Ethereum ETF” would be surpassed in terms of inflows only by Bitcoin (BTC) ETFs: BlackRock’s IBIT, Fidelity’s FBTC, and ARK 21Shares’ ARKB.
Geraci added that ETHA is currently the largest spot Ethereum ETF with over $1 billion in inflows to date, and it is also the seventh largest ETF launch.
FETH and Bitwise Ethereum ETF (ETHW) had the second and third largest inflows, capturing $392.9 million and $314.1 million in cash, respectively.
While Grayscale’s ETHE is responsible for the negative net flows recorded by spot Ethereum ETFs, its Ethereum Mini Trust (ETH) has added significant positive value to the bundle, recording $235.6 million in inflows since its launch.
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