US spot Ether ETFs end 4-day negative flow streak with $33.7m in inflows

Nine spot Ethereum exchange-traded funds in the US saw net inflows totaling $33.7 million yesterday, following four consecutive days of negative flows.

Despite the ongoing outflows from Grayscale’s ETF, overall Ethereum (ETH) ETF flows had a positive day yesterday, July 30. According to data from Farside Investors, Grayscale’s ETHE was the only spot ether ETF to experience net outflows yesterday, July 30, reaching $120.3 million. The ETF has seen outflows every day since its launch on July 23, bringing its total outflows to $1.8 billion since its debut.

Yesterday’s outflows from ETHE were offset by significant inflows to other funds, led by Blackrock’s ETHA with $118 million. Fidelity’s FETH attracted $16.4 million, while Grayscale’s low-fee Ethereum ETF Ethereum Mini Trust saw net inflows of $12.4 million.

Franklin’s EZET reported additional inflows of $3.7 million and Bitwise’s ETHW $3.5 million. The remaining three spot ether ETFs — 21Shares’ CETH, VanEck’s ETHV and Invesco Galaxy’s QETH — reported zero net flows on Tuesday.

According to data from SoSoValue, the total daily trading volume of such spot Ether ETFs stood at $563.22 million on July 30, $773.01 million on July 29 and $1.11 billion on launch day.

Bitcoin ETFs see $18.3 million outflow

Meanwhile, according to Farside’s data, on July 30, 11 spot Bitcoin (BTC) ETFs in the US saw a net outflow of $18.3 million, breaking a four-day streak of positive flows.

BlackRock’s IBIT was the only Bitcoin ETF to record net inflows, with $74.87 million entering the fund.

Grayscale Bitcoin Trust (GBTC) continued its downward movement, experiencing the largest net outflows among rival products at $73.6 million, followed by Ark and 21Shares’ ARKB with $7.9 million in net outflows, VanEck HODL with $5.6 million, Bitwise BITB with $3.2 million, and Fidelity FBTC with $2.9 million in net outflows.

Total daily trading volume of such spot Bitcoin ETFs fell to $1.37 billion on Tuesday, down from $2.68 billion on Monday and $4.66 billion on the launch day, SoSoValue data showed.

The divergent momentum in spot BTC and ETH ETFs emerged after the global cryptocurrency market capitalization fell 0.38% in the past 24 hours to $2.39 trillion, according to data from CoinGecko.

The day marked a reversal for both U.S. Ethereum ETFs and Bitcoin ETFs. On Monday, July 29, spot Bitcoin ETFs recorded net inflows of $124.1 million, while spot Ether ETFs saw net outflows of $98.3 million, as previously reported by crypto.news.

Split Capital founder and chief investment officer Zaheer Ebtikar noted the positive change in a July 31 X post, noting that this was “definitely some revolving capital,” with spot Bitcoin ETFs experiencing $18.3 million in outflows on July 30.

Two days ago, on July 29, Steno Research senior analyst Mads Eberhardt predicted that significant outflows from Grayscale’s ETHE would likely taper off this week; a trend that appears to have already begun.

At press time, the price of BTC is down about 1% to $66,270. ETH, the cryptocurrency market’s largest altcoin, is also down slightly by about 0.5% in the past day and is currently trading around $3,320.