Ether ETFs Receive $26.7M

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Despite the fact that Grayscale’s Ethereum Trust has seen over $2 billion in outflows, daily net inflows into United States spot Ether exchange-traded funds have turned positive again.

On August 1, Ether ETFs received a net inflow of $26.7 million, with BlackRock’s iShares Ethereum Trust (ETHA) leading the way with an $89.6 million inflow, according to data from FarSide Investors.

On that same day, Grayscale’s Ethereum Trust saw outflows of $78 million, bringing the total outflows from the fund to over $2 billion since its conversion to a spot fund.

Unlike the other eight spot ETFs for ETH that were launched as new funds on July 23, ETHE was originally a trust that offered institutional investors exposure to ETH. It was converted to a spot ETF on that same date.

Prior to the conversion, ETHE had $9 billion in Ether on its books. The current outflow of $78 million signifies that 22% of the initial fund has been sold.