The U.S. spot Ether (ETH) exchange-traded fund (ETF) recorded cumulative investment losses for the fifth consecutive day, marking the longest run of outflows in less than a month since its inception on July 23.
Most of the investment from the nine recently approved Ethereum ETFs has been overshadowed by outflows from the Grayscale Ethereum Trust (ETHE), which exceeded $2.5 billion as of Aug. 21.
According to Far Side Investors, ETHE investments are being sold daily, but on August 12, the Grayscale fund reported no net change. data.
Combined inflows and outflows from US Ethereum ETFs. Source: Farside Investors
As shown above, the ETH ETF ecosystem experienced its longest exodus in history, losing $92.2 million in a five-day period from August 15th to August 21st.
Defense against grayscale leaks
During this period, Grayscale ETHE alone reported outflows of $158.6 million, but similar inflows from BlackRock’s iShares Ethereum Trust ETF (ETHA), Fidelity Ethereum Fund (FETH), and Bitwise Ethereum ETF (ETHW) helped mitigate the damage.
In contrast, the Grayscale ETH Fund has not reported any outflows since launch and has maintained a positive cash flow of $231.9 million.
ETHA also became the first ETH ETF to bring in $1 billion in net inflows on August 20. In total, ETH ETFs now have a net outflow (negative) of $458.5 million.
Related: Spot Bitcoin ETF Sees Investor Interest Despite August Outflows
To learn more about spot Ethereum exchange-traded funds, check out Cointelegraph’s beginner’s guide.
Bitcoin ETF attracts investment
Meanwhile, U.S. Bitcoin (BTC) ETF investments, launched in January 2024, have seen a net gain of $17.5 billion. The BTC ETF has maintained a positive balance sheet despite Grayscale Bitcoin Trust (GBTC)’s $19.6 billion outflows.
Additionally, the Spot Bitcoin ETF has maintained positive inflows for eight of the past 10 days. On Aug. 20, total inflows into the BTC ETF hit a two-week high of $88 million, according to data from Far Side Investors.
BlackRock’s iShares Bitcoin Trust (IBIT) topped the list with $55.4 million in inflows, bringing total net inflows into the product to $20.5 billion since its launch in January.
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