The “newborn” eight ETFs didn’t manage to outrun the $327 million of outflows from Grayscale’s recently converted Ethereum Trust.
United States exchange-traded funds investing in spot Ether have turned to a net outflow of $113.3 million on their second day of trading, primarily due to heavy bleeding from Grayscale’s Ethereum Trust.
Seven of the eight “newborn” Ether (ETH) ETFs posted net inflows on day two of trading. Fidelity’s Ethereum Fund (FETH) and the Bitwise Ethereum ETF (BITW) led the pack with the largest net inflows, posting $74.5 million and $29.6 million in new flows, respectively.
BlackRock’s iShares Ethereum Trust (ETHA), which posted the most robust inflows out of the group on July 23, only gathered $17.4 million from investors on July 24.
