Ethereum

Franklin

United

United States-based spot Ether exchange-traded funds (ETFs) saw significant movements on Aug. 2, with outflows from the Grayscale Ethereum Trust (ETHE) hitting $2.1 billion.
<a href="https://sosovalue.com/assets/etf/us-eth-spot" target="_blank" rel="noopener nofollow">According</a> to data from SoSoValue, the total net outflows from spot Ether (<a href="https://cointelegraph.com/ethereum-price">ETH</a>) ETFs exceeded $54 million on Aug. 2. A significant portion of the outflows came from ETHE, which saw a single-day net outflow of over $61 million. 
<h3 data-ct-non-breakable="true" id="grayscale-s-ethereum-trust-etf-faces-more-outflows">Grayscale’s Ethereum Trust ETF faces more outflows</h3>
ETHE has been a prominent player in the market offering investors exposure to Ethereum without the need to directly purchase and store the cryptocurrency since 2017.
<figure data-ct-non-breakable="true">
 <img src="https://s3.cointelegraph.com/uploads/2024-08/ab2c7dfe-d3f9-4f35-be27-97dfb5f9ff5f.png" alt="Grayscale Ethereum ETF outflows exceed $2B " title="">
 <figcaption style="text-align: center;">
 Ethereum ETFs posted a $54.27 million net outflow on Aug. 2. Source: SoSoValue
 </figcaption>
</figure>
While ETHE experienced substantial outflows, other spot Ether ETFs are showing different trends. The Grayscale Ethereum Mini Trust ETF (ETH) reported no outflows, maintaining its current net inflows of $201 million.
The Fidelity Ethereum Fund (FETH) recorded the most significant net inflows yesterday, with over $6 million added. This influx of capital brings FETH’s total net inflows to $297 million. 
Related: <a href="https://cointelegraph.com/news/why-is-eth-demand-lacking-post-ethereum-etf">Why is ETH demand lacking post-Ethereum ETF?</a>
Similarly, the Franklin Ethereum ETF (EZET) also saw positive inflows, with single-day net inflows of just over $1 million, bringing its cumulative net inflows to $30.6 million.
<h3 data-ct-non-breakable="true" id="overall-dynamics">Overall dynamics</h3>
At the time of publication on Aug. 3, the total net asset value of spot Ether ETFs is $8.3 billion. The ETF net asset ratio, which compares the market value of Ether held in the ETFs to the total market value of ETH, is currently at 2.29%. 
Cumulative net outflows from spot Ether ETFs have reached $511 million since their market debut on July 23.
Meanwhile, on Aug. 1, daily net inflows to spot <a href="https://cointelegraph.com/news/ethereum-etf-flows-positive-grayscale-ethe-outflows-top-2-billion">Ether ETFs were positive</a>. The&nbsp;ETFs posted a net inflow of $26.7 million, led by a $89.6 million inflow into BlackRock’s iShares Ethereum Trust (ETHA).
ETH is changing hands for $2,987 at the time of publication, fallen approximately 5.71% since the launch of the ETFs.
Magazine: <a href="https://cointelegraph.com/magazine/ethereum-ico-blockchain-forensics-double-spending-debate/">Decade after Ethereum ICO: Blockchain forensics end double-spending debate</a>

Grayscale Ethereum ETF outflows exceed $2B

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Cointelegraph

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