After several consecutive days in the red, the nine U.S-listed exchange-traded funds tracking Ethereum are back with inflows.
Summary
- Ethereum ETFs recorded $288 million in net inflows on Aug. 21, ending several consecutive days of losses.
- ETH’s price remains under pressure, trading just above $4,238, down 0.72% over the past 24 hours, but up 15% for the month.
- Bitcoin ETFs continued to see outflows, losing $194 million and marking five consecutive days of withdrawals.
Ethereum ETFs recorded a total of $288 million in net inflows on Aug. 21, ending a four-day streak of underperformance. SoSoValue data shows BlackRock’s ETHA led the inflows with a lion’s share of $233 million, outperforming the rest of the funds by a wide margin.
Fidelity’s FETH followed with a minor $29 million, while the rest of the issuers pulled much smaller numbers within the $6 million to $7 million range. The fresh inflows come even as ETH (ETH) continues its decline, suggesting that institutional investor interest is slowly returning.
At the time of writing, ETH trades just over $4,238, down a modest 0.72% over the past 24 hours. The second-largest crypto has been on a downward trend for weeks, after its rally above $4,700 fell short and struggled to maintain momentum. So far this week, ETH has dropped approximately 8%, though it remains up 15% this month.
The weeks-long decline in price was one of the biggest drivers of the negative performance of the exchange-traded funds, which collectively lost nearly $926 during their bleeding streak.
Ethereum ETFs outperform Bitcoin ETFs
While Ethereum-focused funds have started to stabilize, Bitcoin (BTC) ETFs remain under pressure. Investors have been pulling money from exchange-traded funds tracking BTC throughout the week, driven by profit-taking efforts and broader cooling demand.
During their latest trading session, Bitcoin ETFs, unlike their Ethereum counterparts, recorded $194 million in outflows. This marked the fifth consecutive day of losses for the funds, with the total loss so far reaching nearly $1.2 billion.
The latest withdrawals were concentrated among five of the 12 U.S.-listed issuers, including BlackRock, Fidelity, Grayscale, Ark 21Shares, and Franklin Templeton, while the remaining seven recorded no activity.
Like ETH, Bitcoin has also been in a downward trend this week. At the time of writing, BTC trades at $113,216, down 5% over the week and roughly 8.8% below this month’s high of $124,128.
