Finst

Trading volumes Ethereum ETFs rise

ETF investors continue to buy despite falling Ethereum price.

By Mike Hesp
• 2 min read
Trading volumes Ethereum ETFs rise

ETF investors continue to buy despite falling Ethereum price. Ethereum funds experienced their second-best trading day yesterday. Are they really going to break through now?

While Ether (ETH) experienced a huge price drop and was temporarily down more than 20% on Monday, Ethereum-ETF-investors are not discouraged. According to the latest information from Farside Investors the nine U.S. Ethereum Spot ETFs were able to record total net inflows of $48.8 million yesterday. This is the second-best daily result since the trading start on July 23.

Meanwhile, the second-largest cryptocurrency is trading at $2,460, representing a 7.7% price increase from the previous day. Yet the ETH price is still 26.4% lower than a week ago.

Only the Grayscale Ethereum Trust (ETHE) experienced net outflows, this time amounting to $46.8 million. So within just ten trading days, the pioneering product has already lost more than $2.16 billion.

The high cost of 2.5% charged by Grayscale for the ETHE seems to be the main reason for this.

In contrast, BlackRock's iShares Ethereum Trust (ETHA) posted significant growth. Thanks to new net inflows of $47.1 million, the third-largest ETH index fund holds according to Coinglass now ETH worth $522 million.

The second-largest Ethereum ETF is currently the Grayscale Mini Trust, which charges just 0.15% annual fees. It manages Ether worth more than $850 million and could welcome net inflows of $7.6 million yesterday.

As was the case with Bitcoin ETFs, the new ETH index funds could have a big effect on the Ether price in the medium to long term.

Disclaimer: This content is for informational purposes only and does not constitute financial, investment, legal, or tax advice. The information provided may be incomplete, inaccurate, or outdated and should not be relied upon as such. Nothing on this website should be considered a recommendation to buy, sell, or hold any cryptocurrency. Investing in crypto-assets involves risk of loss.