Ethereum ETFs Lose $340M in First Week of Trading

During their first week of operation, spot Ether exchange-traded funds experienced negative net flows due to significant outflows from the established Grayscale Ethereum Trust (ETHE) overpowering interest in competing products.

In contrast, Bitcoin funds that launched in January saw $1 billion in net inflows within the first four days, despite also experiencing notable outflows from a preexisting Grayscale fund.

Overall, the newly launched spot ETH ETFs saw $340 million in net outflows, with over $1.5 billion being withdrawn from the Grayscale Trust, according to Farside Investors.

This was reflected in the price action of ETH, which dropped 5% during the week, while BTC increased by 2%.

Apart from the Grayscale ETHE, other newly listed ETH ETF products saw inflows of $1.15 billion last week, led by offerings from BlackRock, Bitwise, and Fidelity.