ETH Spot ETF Sees $1.18 Billion Inflows in First Week, Excluding Grayscale's ETHE

IconCryptoNewsTerminal Staff29 Jul, 2024

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ETH Spot ETF Sees $1.18 Billion Inflows in First Week, Excluding Grayscale's ETHE

CoinShares research director James Butterfill has revealed that ETH spot ETFs saw inflows totaling $1.183 billion in their first week of trading, excluding Grayscale's ETHE product. Butterfill noted that these inflows were offset by $1.513 billion of outflows from ETHE, resulting in combined net outflows of $338 million. Meanwhile, BlackRock's ETHA and Fidelity's FETH saw inflows of $453 million and $224 million, respectively. These inflows suggest strong institutional demand for ETH spot ETFs, which offer a more accessible way to gain exposure to the cryptocurrency market.

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