Ether ETFs Bleed $79.2M as Bitcoin Funds Extend Positive Streak

• Spot Ether ETFs fell out of favor with investors on Monday.
• The funds bled tens of millions despite witnessing an uptick in trading volume.
• Meanwhile, Bitcoin ETFs saw their third consecutive day of inflows.

U.S.-listed spot Ethereum exchange-traded funds (ETFs) seemingly fell out of favor with investors on Monday, recording their highest outflows since late July.

The funds have generally witnessed a turbulent ride since their launch on July 23, with SoSoValue data estimating their total net outflow to date at $686.8 million. Conversely, spot Bitcoin ETFs have attracted $17.07 billion since their debut in January.

Ether and Bitcoin ETF Flows on September 23

According to SoSoValue data , U.S.-based spot Ether ETFs recorded a daily net outflow of $79.2 million on Monday despite witnessing an uptick in trading volume. The total value traded for the day stood at $167.3 million, slightly higher than Friday’s $139.47 million.

Grayscale’s ETHE was the only fund that bled, losing $80.55 million to record its largest single-day outflow since July 31. The fund, which held $4.15 billion in net assets as of September 23, has recorded a cumulative net outflow of $2.85 billion since its launch.

Overall, Ether ETF flows were tepid on Monday. Other than inflows of $1.3 million into Bitwise’s ETHW, all other funds were flat for the day, with 21Shares’ CETH, Invesco’s QETH, and Franklin Templeton’s EZET extending their zero-flow streak to a 13th consecutive day.   

Meanwhile, spot Bitcoin ETFs in the U.S. witnessed their third consecutive day of inflows on September 23, pulling $4.56 million. Fidelity’s FBTC led the day’s inflows with $24.93 million, followed by BlackRock’s IBIT and Grayscale’s BTC at $11.54 million and $8.42 million respectively.

Grayscale’s GBTC bled $40.33 million as the remaining funds posted zero flows.

Read how crypto funds extended their inflow streak to a second week:
Crypto Funds Extend Inflow Streak to Second Week with $321 Million

Stay updated on the Ethereum Foundation’s latest ETH sell-off:
Ethereum Foundation Dumps More ETH Despite Vitalik’s Pause