Spot Ethereum ETFs Record Positive Shift After $34 Million Inflow on July 30

Jimmy Aki
Last Updated:

Please note that we are not authorised to provide any investment advice. The content on this page is for information purposes only.

Spot Ethereum ETFs recorded a positive shift after an inflow of $34 million on July 30. This was good news for the cryptocurrency and crypto traders after the ETFs had witnessed over $547 million in outflows since July 24.

BlackRock Leads the Pack in New Positive Gain

Net inflows across all nine spot Ether ETFs came in at a total of $33.7 million, according to the Ethereum ETF Flow data provided by Farside Investors. This inflow is mainly because of the reduced outflow from Grayscale (ETHE) at $120.3 million, which was just a quarter of its outflows on launch day.

This would be the first time the spot Ethereum ETFs have recorded net inflows since the SEC gave approval for trading to begin on the U.S. listed exchanges on July 23.

Leading the pack was BlackRock’s iShares Ethereum ETF (ETHA), which recorded $118 million, making it the largest inflow. The BlackRock ETHA fund has had $618 million in inflows since it began trading on July 23.

Following BlackRock was Fidelity’s Advantage Ether ETF (FETH) with $16.4 million, and Grayscale (ETHE) at $12.4 million.

Other funds like Franklin (EZET) and Bitwise (ETHW) recorded inflows of $3.7 million and $3.5 million, respectively, while 21 Shares (CETH), VanEck (ETHV), and Invesco (ETH) recorded zero inflows.

This latest development has elicited comments from the crypto community.

Split Capital founder and chief investment officer Zaheer Ebtikar stated that it was fast for Ethereum to record its first ETH ETF inflows since the approval to trade.

He was also fascinated by the spot Bitcoin ETFs net outflows of $18.3 million today, attributing it to some rotating capital.

Looking at the Relationship Between the Ethereum Price and Spot Ethereum ETFs

Ethereum price is expected to be bullish, especially as the spot Ethereum ETFs have continued to perform decently in the few days since they began trading.

Meanwhile, Ethereum’s price is still having some fluctuations, as the price has dropped by 0.59% to $3,312 in the past 24 hours.

Notwithstanding, Ethereum’s prospects are still expected to be bright, especially in the coming months.

Should Ethereum perform as expected, it could lead to a broader acceptance of cryptocurrency-based financial products, especially among traditional investors who may likely include it in their traditional investment portfolios.

About Jimmy Aki PRO INVESTOR

Based in the UK, Jimmy is an economic researcher with outstanding hands-on and heads-on experience in Macroeconomic finance analysis, forecasting and planning. He has honed his skills having worked cross-continental as a finance analyst, which gives him inter-cultural experience. He currently has a strong passion for regulation and macroeconomic trends as it allows him peek under the global bonnet to see how the world works.