The performance of the U.S. Ethereum spot ETFs in the first week of listing has been released. Although 8 of the ETFs received a total of US$1.15 billion in capital inflows, the money-attracting power still cannot catch up with the blood loss rate of "Grayscale Ethereum Trust (ETHE)", which ultimately dragged down the Ethereum spot. The overall net outflow of ETFs was US$340 million.
Nine Ethereum spot ETFs launched by eight issuers were officially listed in the United States last Tuesday, eight of which are newly listed funds, while ETHE was converted from a "closed-end fund" to an ETF.
Judging from the individual performance of the first four trading days of listing, BlackRock's "iShares Ethereum Trust ETF (ETHA)" recorded a net inflow of US$442 million; "Bitwise Ethereum ETF (ETHW)" recorded a net inflow of US$265.9 million. Net inflows ranked second; Fidelity’s “Fidelity Ethereum ETF (FETH)” followed closely, with net inflows reaching $219.4 million.
"VanEck Ethereum ETF (ETHV)", "Franklin Ethereum ETF (EZET)", "Invesco Galaxy Ethereum ETF (QETH)", and "21Shares Core Ethereum ETF (CETH)" also received US$35.4 million and 2,330 respectively. There were net inflows of US$14.2 million, US$14.2 million and US$7.5 million.
In other words, all the above-mentioned eight ETFs had buying orders, but only the "Grayscale Ethereum Trust (ETHE)" had a net outflow of more than US$1.5 billion, resulting in a total net outflow of Ethereum spot ETFs of US$341.8 million.
Cryptocurrency price action also appears to reflect the lackluster performance of ETFs, with Ethereum down 4.4% over the past week to $3,302 at time of writing.
If funds continue to flow out at the current rate, ETHE is estimated to run out of ether reserves as soon as a month, but analysts expect ETHE's outflow of funds to gradually stop bleeding this week.
Mads Eberhardt, senior cryptocurrency analyst at Steno Research, noted that GBTC outflows began to weaken significantly on the 11th trading day after listing, and he predicted that ETHE may follow the same path.
According to the latest data from SoSo Value, ETHE had a net outflow of US$210 million on Monday, while last Friday saw a net outflow of US$356 million. There are indeed signs of capital bleeding slowing down.
〈Grayscale ETHE lost more than 1.5 billion US dollars! Dragging down the performance of the Ethereum spot ETF in its first week of listing> This article was first published on "Block Guest".
