As volatility continues in crypto markets, Ethereum spot ETFs recorded a total net outflow of $135 million on September 2. According to SoSoValue data, none of the nine Ethereum spot ETFs saw inflows, while investors largely turned to selling.
Ethereum Spot ETFs Experience $135 Million Outflow
The largest outflow occurred through Fidelity’s FETH ETF. The fund saw $99.23 million in outflows in just one day, yet its historical net inflow stands at $2.66 billion. This suggests continued long-term interest, but increased short-term profit-taking.
Bitwise’s ETHW ETF came in second. The fund lost $24.22 million in a single day. ETHW’s cumulative net inflow to date is $411 million.
In total, Ethereum spot ETFs have a net asset value of $27.98 billion, representing 5.38% of Ethereum’s total market capitalization. Furthermore, the ETFs have historically seen cumulative net inflows of $13.37 billion.
Analysts attribute the recent surge to a market correction and investor aversion to risk. However, with institutional demand remaining strong, Ethereum ETFs are expected to continue to play a significant role in the market in the long term.
*This is not investment advice.