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Ethereum Spot ETFs with largest outflows since July

Wall Street shows little interest in Ethereum.

By Mike Hesp
• 2 min read
Ethereum Spot ETFs with largest outflows since July

Wall Street shows little interest in Ethereum. Instead, ETH ETFs continue to see large outflows.

On Sept. 23, the largest outflow of Ethereum Spot ETFs place since July 29. While Bitwise's product (ETHW) still saw $1.3 million in inflows, $80.6 million flowed out of the Grayscale ETF. Since the seven other ETFs showed no trading activity, the net outflow thus amounting to $79.3 million.

Since the start of trading, BlackRock has raised about $1 billion with ETHA. Fidelity follows in second place with $413 million. Continued outflows at Grayscale's ETHE - already $2.8 billion by now - bring total net outflows from ETH ETFs to nearly $700 million.

Bitcoin Spot ETFs are performing significantly better. Although there was a negative run of eight consecutive days in early September, the BTC exchange-traded products have improved since the start in January raised about $17.7 billion.

For ten of the eleven Bitcoin Spot ETFs, Coinbase is taking custody. There are rumors that the crypto exchange would have sold only Bitcoin certificates instead of "physical" BTC. More here: "BlackRock has repeatedly saved the BTC price from the abyss."

Bitcoin is listed at $63,440 at the time of writing and has a one percent monthly price loss. Ethereum continues to weaken against BTC and is currently trading at $2,640.

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