Spot Ethereum Exchange-Traded Funds (ETFs) traded in the US exceeded their $4 billion cumulative net inflow threshold in the 11th month of launch.
US Spot Ethereum ETFS exceeds the $4 billion net inflow threshold
The milestone exceeded $100 million inflows on Monday, June 23rd, exceeding $107 million. Spot Ethereum ETFS began trading on July 23, 2024. Despite recent geopolitical tensions in the Middle East, high daily influx indicates a continuation of investor trust.
Fidelity leads, BlackRock leads second
Fidelity’s Feth Fund brought the biggest influx on Monday, at $605 million. BlackRock’s EthaETF, which is normally leading, came in second with an inflow of $25.8 million. Grayscale’s Ethe fund saw $9 million inflows, while ETH Mini products saw $5.4 million. The other ETFs had no movement.
Spot Ethereum ETF, like Bitcoin ETF, achieves a positive balance sheet overall despite a large outflow from luxury grayscale Ethe funds. The Grayscale Ethe Fund alone has seen $4.3 billion so far. Without these outflows, the total net inflow could have reached $8.3 billion.
Following these exits, Grayscale Ethefund’s market share fell from 89.7% to 30.2%, while BlackRock’s ETHA fund took the lead with a share of 31.8%. Fidelity Feth ranked third with 18% and Grayscale ETH ranked fourth with 15.5%.
“The net inflow of $4 billion, including greyscale outflows, is something that I think is a huge feat. If you recall, some experts have suggested that Bitcoin ETFs can raise up to $5 billion in their first year.
The total trading volume of the Spot Ethereum ETF reached $89 billion, and on June 23rd it took a daily volume of $840 million. The figure is still below the February $1.5 billion per day peak, but above the average.
Bitcoin ETF is still a long way off
For comparison, the US Spot Bitcoin ETF saw a net inflow of $34.7 billion in the first 11 months since its launch in January 2024. That figure is now at $47.3 billion.
On June 23rd, there was a net inflow of $358 million in Bitcoin ETFs. This means a total of $2.8 billion inflows over the past 10 days. BlackRock’s IBIT products were once again prominent in the inflow.
*This is not investment advice.