Ethereum

United

Billion

<ul>
 <li>Grayscale’s Ethereum ETF has seen substantial outflows, nearing $2.3 billion since its inception.</li>
 <li>The total Ethereum ETF inflow stands at $98.30 million.</li>
</ul>
While the global crypto market turned to recovery, Ethereum exchange-traded funds (ETFs) in the United States displayed notable activity. On Wednesday, BlackRock’s fund saw a significant net inflow of around $110 million, contributing to a positive trend for Ethereum ETFs.
For two consecutive days, U.S.-based spot Ether ETFs have recorded substantial inflows, with Tuesday marking the second-highest inflow since their inception. Approximately $98.30 million was added to these funds, although they collectively remain in the red with a net deficit of $363 million, largely due to significant withdrawals from <a href="https://thenewscrypto.com/spot-ethereum-etf-witnesses-massive-outflows-led-by-grayscales-ethe/" target="_blank" rel="noopener noreferrer nofollow">Grayscale’s</a> Ethereum Trust.
<div class="wp-block-image">
 <figure class="aligncenter size-large"><img decoding="async" width="1024" height="427" src="https://thenewscrypto.com/wp-content/uploads/2024/08/image-31-1024x427.png" alt="" class="wp-image-105024" srcset="https://thenewscrypto.com/wp-content/uploads/2024/08/image-31-1024x427.png 1024w, https://thenewscrypto.com/wp-content/uploads/2024/08/image-31-300x125.png 300w, https://thenewscrypto.com/wp-content/uploads/2024/08/image-31-768x321.png 768w, https://thenewscrypto.com/wp-content/uploads/2024/08/image-31.png 1375w" sizes="(max-width: 1024px) 100vw, 1024px">
 <figcaption class="wp-element-caption">Ethereum ETF’s Net Inflow (Source: <a href="https://sosovalue.com/assets/etf/us-eth-spot" target="_blank" rel="noopener noreferrer nofollow">Sosovalue</a>)
 </figcaption>
 </figure>
</div>
On Tuesday, the influx of $98.30 million was primarily driven by BlackRock’s ETHA fund, which secured $109.89 million, followed by Fidelity’s FETH with $22.49 million.
Conversely, Grayscale’s ETHE experienced net outflows of $39.73 million, heavily offsetting the gains seen in other funds.&nbsp;
<h3 class="wp-block-heading" id="h-ethereum-price-shows-recovery">Ethereum Price Shows Recovery</h3>
The Grayscale Ethereum Trust, now operating as an ETF under the ETHE ticker. The ETHE has faced notable challenges, with <a href="https://thenewscrypto.com/spot-ethereum-etfs-see-77-2m-outflow-amid-market-volatility/" target="_blank" rel="noopener noreferrer nofollow">outflows</a> totaling $2.29 billion since July 23, marking a significant reduction in its ether reserves. The fund saw its peak outflow of $484 million on its debut date, underscoring investor hesitancy in recent weeks.
However, there are signs of stabilization as the daily pace of outflows from ETHE moderated, hitting approximately $40 million on August 6, the lowest since its conversion to an ETF. This reflects investor sentiment within the Ethereum ETF market amid broader cryptocurrency market fluctuations.
Further, Ether has shown signs of recovery after hitting a low of $2,190 on August 5. According to CoinMarketCap data, the cryptocurrency has rebounded by 14.57%, bringing its current price up to $2,509. This upward movement suggests a potential reversal of the recent downward trend. The recovery comes amidst various market fluctuations and news events impacting the broader cryptocurrency market.
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Grayscale Ethereum ETF Outflows Near $2.3 Billion

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