The U.S. spot Ethereum exchange-traded fund saw its first week of positive net inflows since its inception on July 23.
Nine newly launched U.S. spot Ethereum ETFs collectively saw net inflows of $104.8 million in the week starting Aug. 5, according to ETF tracker SoSoValue.
The company added that as of Aug. 9, total trading volume had reached $1.9 billion, bringing its total net assets to $7.3 billion.
The inflow comes amid a steep decline in the price of the underlying asset, Ether (ETH), which has fallen 23% since early August.
Six of the nine funds recorded positive net inflows across the board this week, with BlackRock’s iShares Ethereum Trust (ETHA) leading the way with $188.4 million.
The BlackRock fund has raised more than $900 million in its first 13 days of trading and has yet to see an outflow date.
Its closest rival, the Fidelity Ethereum Fund (FETH), saw inflows of $44.65 million last week, bringing its total to $342 million.
The other four ETFs that saw total inflows last week were Grayscale Mini Ethereum Trust (ETH) with $19.8 million, VanEck Ethereum ETF (ETHV) with $16.6 million, Bitwise Ethereum ETF (ETHW) with $11.7 million, and Franklin Ethereum ETF (EZET) with $3.7 million.
The 21Shares Core Ethereum ETF (CETH) and Invesco Galaxy Ethereum ETF (QETH) saw zero flows during the period.
The combined inflows across the nine currencies would have been higher if Grayscale’s Ethereum Trust (ETHE) had not seen $180 million in outflows in one week.
Outflows from Grayscale’s Spot Ethereum ETF continue, now totaling $2.3 billion, with $406.4 million outflows across nine funds. According to To Farside Investors.
Related: Bitcoin ETF options expected to launch by 2025
Meanwhile, ETF issuers are looking to launch options products for spot ETH funds.
On August 7, NYSE American LLC proposed rule changes that would allow options contracts on three ETH ETFs from Grayscale and Bitwise to be listed and traded.
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