Grayscale Ethereum Trust records zero exits for the first time after ETF conversion

Local US Ethereum ETFs attracted a total inflow of $4.9 million on Monday. Grayscale Ethereum Trust (ETHE) reported no withdrawals, the first since its conversion to an ETF after 14 days of exits.

Monday’s trading volume for these ETFs was strong, reaching $286 million on August 12, a significant jump from Friday’s figure of $166.9 million.

Leading the entry race was Fidelity Ethereum Fund ( FETH ), which posted $3.98 million, well behind Bitwise Ethereum ETF ( ETHW ), which posted $2.86 million, and Franklin Ethereum Trust (EZET) with $1.01 million.

According to data compiled by SoSoValue, VanEck Ethereum Trust (ETHV) was the only fund to post net outflows on August 12 with $2.92 million, the first since July 23. Simultaneously, other ETFs such as the Grayscale Ethereum Mini Trust (ETH) and Invesco Galaxy Ethereum ETF (QETH) did not register any flows.

While BlackRock’s iShares Ethereum Trust ( ETHA ) also saw zero inflows for the day, the fund has seen significant growth since its July 23 launch.

In fact, ETHA has attracted more than $901 million in tickets. This number positions BlackRock as the leader in the Ethereum ETF market, beating rivals such as Fidelity Investments, Bitwise, Grayscale Investments and VanEck.

Amidst the recent market crash, Ethereum has benefited the most as investors seem to have taken advantage of the price drop to invest more. This was evident in the CoinShares report, which revealed that Ethereum-based investment products accumulated $155 million in inflows last week.

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