Bullish sentiment has returned in Ethereum ETFs market
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On Aug. 6, Grayscale’s ETHE had an outflow of nearly $39 million as the cumulative net outflows now stand at $2.2 billion. However, Grayscale’s newly launched ETF, named ETH, has witnessed $4.7 million inflows yesterday with cumulative net inflows of about $213 million. But the best-performing Ethereum ETF is BlackRock’s ETHA, which had an inflow of about $110 million yesterday. Its cumulative net inflows now stand at nearly $869 million, making it the most sought-after Ethereum spot ETF in the market. Meanwhile, Fidelity’s FETH saw an inflow of almost $22 million on the same day with cumulative net inflows of about $335 million.
Overall, the total net asset value of these ETFs stand at $7.06 billion. Notably, this is about 2.36% of the total Ethereum market capitalization. It indicates how these newly launched ETFs have started to capture the market with their performance. This resurgence of Ethereum ETFs is a With over three years of immersive experience in the crypto industry, Mushumir is a seasoned crypto writer dedicated to unraveling the complexities of blockchain technology and decentralized finance.
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