Ethereum ETF Inflows Revive As Grayscale’s ETHE Outflows End, What’s Next?
The post Ethereum ETF Inflows Revive As Grayscale’s ETHE Outflows End, What’s Next? appeared on BitcoinEthereumNews.com.
Spot Ethereum ETFs have witnessed a resurgence in inflows after weeks of subdued activity, driven by a significant shift in the market. Moreover, Grayscale’s ETHE, one of the most prominent Ether ETFs, marked a pivotal moment by ending its 19-day streak of outflows on Monday, August 12. Additionally, this development comes as the broader market for ETH ETFs struggles to gain momentum in the wake of Bitcoin ETFs. The BTC ETFs have consistently outpaced Ether counterparts in attracting investor interest. Ethereum ETF Performance Ethereum, the second-largest crypto by market capitalization, recently recovered from levels below $2,000, sparking optimism that it could breach the $3,000 mark. However, this optimism has been dampened as the bullish momentum faded, leaving the price unable to reach critical resistance levels. The failure to sustain upward movement has raised concerns among investors about the short-term bearish outlook for Ethereum. However, the ETH ETF weekly inflows last week were positive. As of the latest data, the cumulative inflows for Ether ETFs reached just $5 million, marks a shift from the outflows recorded since last Wednesday. Despite this, there are signs of recovery, particularly with the end of outflows from Grayscale’s ETHE. Grayscale’s ETHE ETF, which has been under pressure with consistent outflows, saw a break in its downward trend. On Monday, August 12, the ETF reported zero flows, signaling a potential shift in investor sentiment. This marked the end of a 19-day streak of outflows and could be a turning point for the Ethereum ETF market. Other ETH ETFs, including those from Fidelity and Bitwise, have also shown signs of recovery, albeit modest. Fidelity recorded inflows of $4 million, while Bitwise attracted $2.9 million. However, BlackRock’s ETHA, the biggest player in the Ethereum ETF space, reported zero flows on the same day. On the contrary, data from…
Filed under: News - @ August 14, 2024 6:27 am