Ether Enthusiasm Cools as ETFs Shed $505M in 4-Day Slide
The spot bitcoin ETFs saw $284 millions of inflows over the same period, signaling a stark divergence in investor sentiment.
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The spot bitcoin ETFs saw $284 millions of inflows over the same period, signaling a stark divergence in investor sentiment.
With ETH near record highs and Tom Lee eyeing $15,000 by the end of this year, investors weigh exposure through direct tokens, spot ETFs or corporate treasuries.
Following their listing, ether ETFs did not enjoy the same response as their bitcoin equivalents had done in January.
Bitcoin-linked products led with $284 million of inflows, while their ether equivalents saw outflows of $29 million.
BlackRock and other funds have collected billions of dollars worth of inflows for their Ethereum products. Massive outflows from the Grayscale Ethereum Trust (ETHE) have overshadowed that, though.
More than $1.5 billion of exits from Grayscale’s high-fee Ethereum Trust more than offset inflows into the other spot products.
The eight spot ether exchange-traded funds had a successful launch on Tuesday, despite the missing staking feature that many investors had hoped to profit from.
Solana’s SOL and Ripple’s XRP were notable outperformers.
Investors traded over $1 billion worth of shares – or ether {{ETH}} – of the freshly launched ether exchange-traded fund (ETF) issuers on the first day of trading, data from Bloomberg shows.
The eight recently launched spot ethereum {{ETH}} exchange-traded funds (ETFs) posted nearly $600 million worth of volume in the first half of their first day of availability, according to data from Bloomberg.