Spot Ethereum ETFs Take In $49M

Despite a 20% drop in its price, US-listed exchange-traded funds (ETFs) for Ether saw net inflows of nearly $49 million on Monday.

The steep decline in ETH’s value was partly caused by prominent trading firm Jump Crypto moving large amounts of the asset to centralized exchanges in preparation for potential sales.

The broader decline in the crypto market also contributed to selling pressure, with over $340 million in ETH futures being liquidated.

However, professional investors saw this as an opportunity to buy the dip, with data showing record-high trading volumes of over $715 million for ETH ETFs on Monday.

Among the top ETFs were BlackRock’s ETHA, which had net inflows of $47 million, and Fidelity’s FETH and VanEck’s ETHV, both of which recorded inflows of $16 million.