$2 billion flows in as U.S. spot Ethereum ETFs hit record trading volume
TechFlow Selected TechFlow Selected
$2 billion flows in as U.S. spot Ethereum ETFs hit record trading volume
Global ETF flows year-to-date have reached $911 billion.
Navigating Web3 tides with focused insightsSource: cryptoslate
Translation: Blockchain Knight
According to data from Farside Investors, spot Ethereum ETFs have seen inflows exceeding $2 billion over the past four weeks, not including nearly $2.5 billion in outflows from Grayscale's ETHE.
Nate Geraci, CEO of ETF Store, emphasized that if this cumulative figure were considered a single ETF, it would rank as the fourth-largest ETF launched to date.
The other three ETFs with higher cumulative values than Ethereum ETFs are all spot BTC ETFs: BlackRock’s IBIT, Fidelity’s FBTC, and ARK 21Shares’ ARKB.
Geraci added, “On its own, iShares Ethereum ETF is close to being among the top seven largest ETF launches.”
Eric Balchunas, senior ETF analyst at Bloomberg, shared that global ETF flows year-to-date have reached $911 billion. The $17 billion in net flows registered by U.S.-listed spot crypto asset ETFs account for nearly 2% of total global flows.
Notably, by inflows, IBIT ranks as the third-largest ETF, approaching $20.5 billion. FBTC has also entered the ranks of the largest funds, with inflows nearing $10 billion.
Despite spot Ethereum ETFs surpassing the $2 billion cumulative inflow mark, their performance still lags behind BTC ETFs.
Analysts at Bitfinex attribute this to Ethereum's overall weak performance over the past few weeks, during which the crypto asset declined by 40% over the past month.
Since the launch of Ethereum ETFs, Jump Crypto, Wintermute, and Flow Traders have cumulatively sold 130,000 ETH.
In addition, Japan's significant rate hikes recently have shaken the macroeconomic landscape, dampening market risk appetite.
Aurelie Barthere, Chief Research Analyst at Nansen, also noted that the March sell-off in crypto markets resulted in substantial realized losses, especially for traders involved in multiple crypto narratives.
Moreover, a second wave of selling occurred between July and August, revealing growing correlation with equities. With solid yet slowing U.S. economic growth and stretched valuations in traditional risk assets like U.S. stocks, ETH faces further pressure.
Join TechFlow official community to stay tuned
Telegram:https://t.me/TechFlowDaily
X (Twitter):https://x.com/TechFlowPost
X (Twitter) EN:https://x.com/BlockFlow_News
@CryptoSlate
