Photo credit: Bess Adler/Bloomberg
United States-listed spot Ether exchange-traded funds (ETF) have recorded yet another inflows on their last trading day as investors took advantage of Ether’s 20% price drop on Aug. 5.
The nine Ether funds recorded approximately $98.30 million in net inflows on Aug. 6, led by BlackRock’s iShares Ethereum Trust (ETHA), with $109.89 million, according to SoSoValue data.
Blackrock’s Ether ETF saw its third-largest single-day inflow recently, following its record-setting debut in July with a $266.55 million inflow. Ether’s price was significantly higher then, at $3,400.
The latest inflow has pushed Blackrock’s ETHA to a total of $869.89 million in net inflows, surpassing all other US-listed Ether ETFs in terms of accumulated investor capital.
The Fidelity Ethereum Fund (FETH) and Franklin Ethereum ETF (EZET) also saw net inflows on the day amounting to $22.49 million and $950,000, respectively.
Only Grayscale’s Ethereum Trust (ETHE) saw outflows at $39.73 million, while the issuer’s smaller Ethereum Mini Trust posted inflows at $4.7 million.
Despite ETHA’s strong start, the spot Ether ETFs have experienced a combined net outflow of approximately $363.68 million. This is largely due to substantial outflows from Grayscale’s main ETH fund, which has seen a total of $2.20 billion in net outflows so far.
Since its Aug. 5 low of $2,197.15, Ether has rebounded partially to $2,494.67 at the time of writing, according to CoinGecko data.
Meanwhile, Bitcoin ETFs in the US continued their outflow streak for the third consecutive day, recording $148.56 million in negative flows from four funds, per SoSoValue. This comes as Bitcoin trades at $56,718.47, up 1.8% over the past 24 hours.