Grayscale Ethereum Trust Sees Zero Outflows for the First Time Since ETF Conversion

On Monday, Grayscale’s two spot Ethereum ETFs recorded no fund flows, marking a notable moment in the market.

U.S. spot Ethereum ETFs attracted a total of $4.9 million in inflows that day. Specifically, the Grayscale Ethereum Trust (ETHE) did not experience any withdrawals, a first since its conversion to an ETF, following two weeks of outflows.

Trading volume for these ETFs was robust on August 12th, reaching $286 million, up significantly from $166.9 million on the previous Friday.

Leading the inflows was the Fidelity Ethereum Fund (FETH) with $3.98 million, followed by the Bitwise Ethereum ETF (ETHW) with $2.86 million, and the Franklin Ethereum Trust (EZET) with $1.01 million.

According to data from SoSoValue, the VanEck Ethereum Trust (ETHV) was the only fund to report net outflows on August 12th, with $2.92 million—the first outflow since July 23. Other ETFs, including the Grayscale Ethereum Mini Trust (ETH) and the Invesco Galaxy Ethereum ETF (QETH), showed no fund flows.

BlackRock’s iShares Ethereum Trust (ETHA) also recorded zero inflows on Monday. However, since its launch on July 23rd, the fund has seen impressive growth, attracting more than $901 million in inflows, making BlackRock the dominant player in the Ethereum ETF market, surpassing competitors like Fidelity, Bitwise, Grayscale, and VanEck.

Despite the recent market downturn, Ethereum has emerged as a beneficiary, with investors seizing the opportunity to buy during the price dip. This trend was highlighted in a CoinShares report, which revealed that Ethereum-based investment products amassed $155 million in inflows over the past week.