TL;DR
- US Ethereum ETFs saw a daily net outflow of $79.21 million.
- Total cumulative net outflows since launch amount to $686.68 million.
- Bitcoin ETFs continue to attract investments with three consecutive days of inflows.
Ethereum exchange-traded funds (ETFs) in the US experienced their largest capital outflow since late July on Monday, September 23, reaching a total of $79.21 million in a single day.
Although trading volume increased to $167.35 million, the loss in value reflects a trend of investor disinterest in these products.
Since their launch in July, these ETFs have recorded a cumulative negative net flow of $686.68 million, reflecting a significant outflow of funds compared to their debut.
Despite these figures, Ethereum (ETH) ETFs still hold total net assets of $7.20 billion, representing 2.25% of Ethereum’s market cap, according to official data from SoSoValue.
Grayscale‘s ETHE fund was hit the hardest, suffering a loss of $80.55 million in a single day, the largest outflow recorded since July 31.
The fund, which had net assets valued at $4.15 billion as of Sept. 23, has seen cumulative outflows of $2.85 billion since its inception.
On the other hand, funds such as Bitwise managed to obtain small capital inflows, as in the case of ETHW, which added $1.3 million, while other funds, including 21Shares and Franklin Templeton, continued with a trend of zero flows for 13 consecutive days.
Contrast with Bitcoin ETFs
While Ethereum ETFs struggle to maintain investor interest, Bitcoin ETFs continue to show a positive trend.
On the same day, Bitcoin exchange-traded funds experienced their third consecutive day of inflows, accumulating a total of $4.56 million in net flows.
The top funds were Fidelity’s FBTC with $24.93 million, followed by BlackRock’s IBIT with $11.54 million and Grayscale’s BTC with $8.42 million in net inflows.
Despite positive inflows, not all Bitcoin funds are free from difficulties.
Grayscale’s GBTC reported a significant outflow of $40.33 million, although the overall Bitcoin ETF market appears to continue to capture investors attention.
This is in marked contrast to the performance of Ethereum ETFs, which have failed to reverse capital outflows, possibly due to uncertainty surrounding their long-term performance.
While Ethereum ETFs face significant capital outflows and persist in a cycle of negative flows, Bitcoin ETFs continue to enjoy a positive streak, attracting a steady flow of investments.
The preference for Bitcoin remains evident in the market, leaving Ethereum in a more uncertain position vis-a-vis institutional investors.
