Spot Ethereum ETFs turn positive with a $34M inflow on July 30, reversing four days of outflows and indicating a potential shift in investor sentiment.
Spot Ethereum exchange-traded funds (ETFs) have recorded their first net positive daily inflow since launch, with $34 million flowing in on July 30. This shift follows four consecutive days of significant outflows, highlighting a potential change in investor sentiment.
Key Points:
Positive Turn for Ether ETFs:
Spot Ethereum ETFs saw a net inflow of $33.6 million on July 30, the first positive day since their launch.
This marks a reversal from the previous trend where $547 million left the funds over four days.
Grayscale Ethereum Trust Stabilizes:
The Grayscale Ethereum Trust (ETHE) saw its smallest outflow day with just $120.3 million, significantly lower than previous days.
This slowdown contributed to the overall positive inflow for spot Ethereum ETFs.
Leading Contributors:
BlackRock’s iShares Ethereum ETF (ETHA) led with an inflow of $117.9 million.
Fidelity’s Advantage Ether ETF (FETH) recorded $16.4 million in inflows, while Bitwise Ethereum Fund (ETHW) and Franklin Ethereum ETF (EZET) saw smaller but notable contributions.
Market Reactions:
Analysts and industry experts, including Anthony Sassano and Zaheer Ebtikar, highlighted the significance of this positive turn.
The shift in capital from Bitcoin ETFs to Ethereum ETFs was also noted, indicating a potential trend of investors diversifying their portfolios.
Future Outlook:
BlackRock’s ETF and investments chief, Samara Cohen, stated that Ethereum ETFs will be included in model portfolios offered by large wirehouses by the end of the year.
This inclusion is expected to drive further inflows and stabilize the market for Ethereum ETFs.
The recent positive inflow into spot Ethereum ETFs signals a potential shift in investor sentiment after days of outflows. With industry leaders like BlackRock spearheading these funds, the future looks promising for Ethereum ETFs as they become integrated into broader investment portfolios.
Source: Cointelegraph
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