US ETH ETFs Draw $48.73M on Monday; Grayscale’s $46.84M Outflow Dampens Impact

On Monday, U.S. spot ethereum exchange-traded funds (ETFs) recorded their second-highest inflows since their inception. Approximately $48.73 million was added, yet the nine funds collectively remain in the red, with a deficit of $461.98 million, primarily due to significant outflows from Grayscale’s Ethereum Trust.

Blackrock Leads $48.73M Inflows for U.S. ETH ETFs as Crypto Market Struggles

Despite the broader crypto market enduring a sharp downturn during Monday’s trading, ETH-based ETFs in the U.S. posted gains, according to sosovalue.xyz stats. The $48.73 million in inflows was predominantly driven by Blackrock’s ETHA fund, which secured $47.09 million. Vaneck’s ETHV followed with $16.62 million, and Fidelity’s FETH fund accumulated $16.15 million.

Next in line were Grayscale’s Mini Ethereum Trust (ETH) with $7.59 million and Bitwise’s ETHW, which saw $7.2 million in net inflows. Finally, Franklin Templeton’s EZET brought in a modest $908,380. However, Grayscale’s ETHE experienced $46.84 million in net outflows, which heavily offset the gains. Since July 23, ETHE has reduced its ether reserves by $2.16 billion.

Monday’s trading session witnessed $715.61 million in trade volume. As of today, the net reserves held by the nine funds are valued at $6.70 billion. This figure is considerably lower than it was on July 23, due to both ETH’s significant spot value decline and the $2.16 billion offloaded by Grayscale’s Ethereum Trust.

What do you think about the spot ether ETF action on Monday? Share your thoughts and opinions about this subject in the comments section below.

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