After a series of red days, the nine U.S.-listed exchange-traded funds for Ethereum are witnessing inflows once again.
Summary
- Ethereum ETFs saw $288 million in net inflows on Aug. 21, breaking a string of losses.
- ETH’s price continues to face pressure, currently trading just above $4,238, a decrease of 0.72% in the last 24 hours, though it has increased by 15% for the month.
- In contrast, Bitcoin ETFs have been experiencing outflows, losing $194 million and marking five consecutive days of withdrawals.
On Aug. 21, Ethereum ETFs recorded $288 million in net inflows, ending a four-day decline. According to SoSoValue data, BlackRock’s ETHA led the way with $233 million, significantly outperforming other funds.
Fidelity’s FETH followed with $29 million, while the rest of the issuers reported smaller inflows ranging from $6 million to $7 million. The recent inflows occur even as ETH (ETH) drops, indicating a gradual return of institutional investor interest.
As of now, ETH trades just above $4,238, reflecting a slight decline of 0.72% in the last 24 hours. The second-largest cryptocurrency has seen a downward trend over several weeks, struggling to maintain momentum after its earlier rally above $4,700. This week alone, ETH has fallen around 8%, although it is up 15% this month.
The ongoing decline in price has contributed significantly to the underperformance of the exchange-traded funds, which have collectively lost nearly $926 million during this downturn.
Ethereum ETFs Outperform Bitcoin ETFs
While Ethereum-focused funds are beginning to stabilize, Bitcoin (BTC) ETFs continue to face challenges. Investors have been withdrawing funds from Bitcoin ETFs throughout the week due to profit-taking and reduced demand.
In their latest trading session, Bitcoin ETFs, unlike Ethereum ETFs, experienced outflows amounting to $194 million, marking the fifth consecutive day of losses and totaling nearly $1.2 billion lost so far.
The latest withdrawals concentrated on five of the twelve U.S.-listed issuers, including BlackRock, Fidelity, Grayscale, Ark 21Shares, and Franklin Templeton, while the remaining seven saw no activity.
Similar to ETH, Bitcoin has also been declining this week. As of now, BTC trades at $113,216, down 5% over the week and approximately 8.8% below this month’s peak of $124,128.
