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Key Takeaways
- Grayscale’s Ethereum ETF saw $346 million in net outflows on its third day of trading.
- BlackRock’s iShares Ethereum Trust led the pack with $71 million in inflows.
Grayscale’s Ethereum ETF (ETHE) ended Thursday with $346 million in net outflows, extending its losses to $1.1 billion within three trading days since its conversion, data from Farside Investors reveals. After the third trading day, ETHE’s assets under management plummeted from over $9 billion to $7.4 billion, a remarkable decline since the launch of US spot Ethereum ETFs.
Other funds, including Fidelity’s Ethereum Fund (FETH), Bitwise’s Ethereum ETF (ETHW), VanEck’s Ethereum ETF (ETHV), and Invesco/Galaxy’s Ethereum ETF (QETH), also reported inflows. The remaining ETFs saw zero flows.Despite inflows to eight Ethereum ETFs, the combined net outflow for all nine funds on Wednesday reached $152 million, the largest since their trading debut on July 23. This outflow was largely driven by Grayscale’s ETHE.