US Spot Ethereum ETFs Post $133M Outflows
US spot Ethereum exchange-traded funds (ETFs) have since seen a decline in investments. Data from Farside Investors shows that on the second day of trading, investors withdrew around $133 million from these products.
Fidelity’s Ethereum Fund (FETH) outperformed BlackRock’s iShares Ethereum Trust (ETHA) on the second day, garnering $74.5 million in net inflows.
ETHA, on the other hand, received nearly $17.5 million in investments. While ETHA took the lead on the first day with over $266 million in inflows, the flows from the fund and an additional seven Ethereum ETFs were not enough to offset the massive outflows from Grayscale’s Ethereum ETF (ETHE) on its debut.
ETHE saw net outflows of nearly $327 million on the second day, resulting in a total of $811 million since the fund’s conversion. As a result, ETHE’s assets under management dropped from $9 billion to $8.3 billion after just two days of trading for spot Ethereum ETFs.
