- The US spot Ethereum ETF market recorded a net inflow of $5.84M.
- BlackRock’s ETHA ETF witnessed the largest one-day inflow of $8.40 million.
After the nine consecutive days of outflows, the US Spot Ethereum ETFs witnessed a net inflow of $5.84 million. The inflows were led by BlackRock’s ETHA and Fidelity’s FETH. Conversely, Grayscale’s ETHE continues to experience outflows.
According to the SoSoValue statistics, BlackRock’s ETHA ETF witnessed the largest inflow of $8.40 million, with the current total net asset worth $846.54 million. Followed by the key player, Fidelity’s FETH ETF saw an inflow of $1.26 million, with the total net asset worth $323.63 million, contributing to the overall net flows of the Ethereum ETFs. In contrast, Grayscale’s ETHE ETF experienced an outflow of $3.81 million, indicating the ongoing selling pressure with a total net asset value of $4.53 billion.
Moreover, in the past week, the total net inflow of spot Ethereum ETFs was observed at $10.83 million. The spot Ethereum ETFs have experienced a cumulative net inflow of $475.48 million to date. On the other hand, Ethereum ETFs witnessed a significant outflow of $39.21 million on August 15.
Meanwhile, US Bitcoin spot ETFs also witnessed a total net outflow of $105.19 million. Fidelity FBTC noted an outflow of $10.37 million, Ark Invest and 21 Shares ARKB witnessed $59.27 million outflow, and VanEck Bitcoin Trust ETF saw an outflow of $10.07 million.
Price Action of Ethereum (ETH)
The Ethereum price has experienced a brief recovery of 0.98% in the last 24 hours. At the time of writing, Ethereum (ETH) trades at $2,545. Whereas, the daily trading volume has dropped by 25.58% to $16.50 billion as per CMC data. The lowest and highest price of ETH traded is noted at $2,457 and $2,558, respectively.
Looking ahead, the short-term 9-day MA is found at $2,637 and the long-term 21-day MA at $2,627. Meanwhile, ETH is heading towards the neutral zone as the daily RSI stood at 41.07.
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