US$2 billion inflows into US spot Ethereum ETF trading volume hits record high

Compiled by: Blockchain Knight

According to Farside Investors, the inflow of spot Ethereum ETFs has exceeded $2 billion in the past four weeks, not including the nearly $2.5 billion outflow of Grayscale's ETHE.

ETF Store CEO Nate Geraci emphasized that if this cumulative value is considered an ETF, it will be equivalent to the fourth largest ETF launched so far.

The other three ETFs with higher cumulative values ​​than the Ethereum ETF are all spot BTC ETFs: BlackRock's IBIT, Fidelity's FBTC, and ARK 21Shares' ARKB.

Geraci added: "In itself, the iShares Ethereum ETF is close to the top 7 ETF launches."

Bloomberg Senior ETF Analyst Eric Balchunas shared that ETFs have seen global flows of $911 billion so far this year. The $17 billion in net flows registered by U.S.-traded spot Crypto asset ETFs account for nearly 2% of the global total.

It is worth noting that IBIT is the third largest ETF by inflow, with nearly $20.5 billion. FBTC is also among the largest funds, with inflows approaching $10 billion.

Although the cumulative inflows of the spot Ethereum ETF have exceeded the $2 billion mark, its performance still lags behind the BTC ETF.

Bitfinex analysts believe this is due to Ethereum's overall weak performance in the past few weeks, with the Crypto asset falling 40% in the past month.

Jump Crypto, Wintermute and Flow Traders have sold a total of 130,000 ETH since the launch of the Ethereum ETF.

In addition, Japan's recent sharp interest rate hikes have also shaken the macroeconomic landscape and suppressed the market's risk appetite.

Aurelie Barthere, chief research analyst at Nansen, also said that the sell-off in the Crypto asset market in March caused huge realized losses, especially for traders involved in multiple Crypto asset narratives.

In addition, a second sell-off occurred between July and August, revealing a growing correlation with stocks. ETH is further under pressure amid solid but slowing U.S. economic growth and stretched valuations of traditional risk assets such as U.S. stocks.