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Spot Ethereum ETFs (exchange-traded funds) recorded $4.9 million inflows yesterday after Grayscale’s Ethereum Trust ended its negative streak and as CoinShares says investors favored <a href="https://insidebitcoins.com/news/ethereum-price-prediction-eth-dips-4-1-amid-lowest-transaction-rates-in-five-years-but-consider-this-p2e-crypto-that-can-100x" rel="noopener noreferrer nofollow">ETH</a> funds over BTC investment products in the recent market rebound.
Data from <a href="https://sosovalue.xyz/" rel="noopener noreferrer nofollow">SosoValue</a> shows the 9 spot <a href="https://insidebitcoins.com/news/median-ethereum-gas-price-drops-to-5-year-low-as-daily-eth-burn-rate-plunges" rel="noopener noreferrer nofollow">Ethereum</a> ETFs recorded inflows yesterday after suffering negative flows for 3 consecutive days. Meanwhile, Grayscale’s Ethereum Trust (ETHE) logged zero flows for the first time since its conversion into an ETF, bringing an end to 14 days of outflows.
<img decoding="async" src="https://fortune.com/_next/image/?url=https%3A%2F%2Ffortune.com%2Fimg-assets%2Fwp-content%2Fuploads%2F2023%2F05%2FCoins-ethereum.jpg%3Fresize%3D1200%2C600&amp;w=1440&amp;q=75" alt="Ethereum | Fortune Crypto">
<h2 id="span-style-font-weight-400-vaneck-s-fund-is-the-only-one-among-the-spot-ethereum-etfs-to-record-outflows-span">VanEck’s Fund is the Only One Among the Spot Ethereum ETFs to Record Outflows</h2>
VanEck’s ETHV was the only spot Ethereum ETF to experience negative flows on Aug. 12. ETHV recorded outflows for the first time since July 23 after $2.92 million left its reserves.
During the same period, Fidelity’s FETH posted $3.98 million in net inflows, while Franklin’s EZET saw approximately $1.01 million in inflows yesterday. Bitwise’s ETHW also registered positive flows after $2.86 million entered the fund.
In addition to the net inflows, the collective trading volume for the spot Ethereum ETFs also increased. On Aug. 12, volumes reached $286 million, which was a more than $100 million uptick compared to Aug. 9.
<h2 id="span-style-font-weight-400-investors-favored-eth-over-btc-in-latest-market-recovery-span">Investors Favored ETH Over BTC In Latest Market Recovery</h2>
CoinShares said in its weekly Digital Asset Fund Flows <a href="https://blog.coinshares.com/volume-195-digital-asset-fund-flows-weekly-report-e29fcaa8713d" rel="noopener noreferrer nofollow">report</a> on Aug. 12 that $176 million entered crypto asset management products last week. Ethereum funds accounted for the majority of the inflows, attracting $155 million. This adds up to around 88% of the total inflows.
<blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 📈 Inflows rebound amid market correction! Digital asset investment products saw inflows totalling US$176m: <a href="https://twitter.com/hashtag/Ethereum?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Ethereum</a> has benefited the most from the recent market correction, with inflows of US$155m last week.
 For more insights, read our full report: <a href="https://t.co/zmIGby5elC" rel="noopener noreferrer nofollow">https://t.co/zmIGby5elC</a> <a href="https://t.co/CsDMUIpj4x" rel="noopener noreferrer nofollow">pic.twitter.com/CsDMUIpj4x</a>
 — CoinShares (@CoinSharesCo) <a href="https://twitter.com/CoinSharesCo/status/1822952649689272548?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">August 12, 2024</a>
</blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
With the recent capital injection, the year-to-date inflows for Ethereum-based funds has reached $862 million. This is the highest amount since 2021, according to CoinShares, who added that this is “largely due to the launch of US spot-based ETFs.”
Over the past 24 hours, Ethereum managed to achieve a more than 3% <a href="https://coinmarketcap.com/currencies/ethereum/" rel="noopener noreferrer nofollow">gain</a> to trade at $2,648.86 as of 3:32 a.m. EST. Bitcoin only managed to record a 1% gain throughout the past day of trading. The leading crypto is still priced below the $60K mark.
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Spot Ethereum ETFs Record $4.9 Million Inflows As Grayscale’s Fund Stops Bleeding And CoinShares Says Investors Favored ETH Over BTC Last We...

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