Ethereum ETF Positive Signals After 9 Consecutive Days of Decline

Bittime - The Ethereum ETF recorded a significant increase in income after a decline in recent days. This note is a positive result after 9 consecutive days of decline.

ETF Ethereum trading in the US recorded positive net flows of almost $6 million (Rp. 92.4 million) after suffering losses of $115 million (Rp. 1.77 trillion) over the last nine days.

Ethereum ETF Positive Signals Note

Data from Farside Investors shows that US exchange-traded Ethereum (ETH)-based futures funds recorded net inflows of $5.9 million on August 28 after nine consecutive days of outflows.

Read also: Answer Key X Empire Riddle of The Day 31 August

Grayscale Ethereum Trust (ETHE) recorded an outflow of $3.8 million yesterday, the smallest amount of money to come out of the fund since a spot Ethereum ETF debuted in the US on July 23.

Additionally, BlackRock's iShares Ethereum Trust ETF (ETHA) recorded inflows of $8.4 million, the first sign of inflows after closing five days of inactivity. 

Fidelity Ethereum Fund (FETH) added $1.3 million to inflows, capping a positive day.

ETHA has not recorded a single day of outflow since its launch despite showing neutral flows on nine of 27 trading days.

Meanwhile, ETHE outflows may start to decrease as the amount of capital leaving the fund has been gradually reducing since August 22.

Ethereum ETF Inflows Over $2 Billion

Since its launch, US-traded ETH ETFs have recorded negative net flows of $475.7 million. However, excluding the $2.55 billion outflow from ETHE, these funds have surpassed $2 billion (Rp. 31 trillion) in inflows in just 27 trading days.

Read also: What Is Golem Network Coin (GLM)?

According to ETF Store CEO Nate Geraci, if the cumulative value of Ethereum ETFs were considered as a single product, it would equate to the fourth largest ETF launch to date.

Things to pay attention to are these "Ethereum super ETFs" only to be beaten in inflows by Bitcoin (BTC) ETFs: BlackRock's IBIT, Fidelity's FBTC, and 21Shares' ARK's ARKB.

Geraci added that ETHA is currently the largest spot Ethereum ETF with over $1 billion in inflows to date, and is also the seventh largest ETF launch.

FETH and Bitwise ETF Ethereum (ETHW) had the second and third largest inflows, raising $392.9 million and $314.1 million, respectively.

While Grayscale's ETHE was responsible for the negative net flows recorded by spot Ethereum ETFs, its Ethereum Mini Trust (ETH) added significant positive value to the bundle, recording $235.6 million in inflows since its launch.

How to Buy Crypto on Bittime

You can buy and sell crypto assets in an easy and safe way via Bittime. Bittime is one of the best crypto applications in Indonesia which is officially registered with Bappebti. 

To be able to buy crypto assets on Bittime, make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into your wallet. For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application. 

Learn How to Buy Crypto on Bittime.

Monitor price chart movements of Bitcoin (BTC), Ethereum (ETH), Solana (SOL) and other cryptos to find out today's crypto market trends in real-time on Bittime.