Ethereum spot ETFs recorded consecutive negative net inflows; during the reporting session, there were total net outflows of about $251 million, causing significant fluctuations in some large funds such as Fidelity and Grayscale.
Data shows that Fidelity FETH and Grayscale ETHE both recorded net withdrawals on the day, while the total net asset value (NAV) of the Ethereum ETF group remains in the tens of billions of dollars, accounting for about 5.46% of Ethereum's market Capital .
- The reporting day saw a net outflow of approximately $251 million from the Ethereum ETF.
- Fidelity FETH withdrew $158 million but still had cumulative positive cash flow of ~$2.586 billion; Grayscale ETHE withdrew ~$30.2657 million with cumulative net withdrawal of ~$4.592 billion.
- Total NAV of Ethereum ETF is about 25.591 billion USD, accounting for 5.46% of Ethereum market Capital ; cumulative positive net cash flow ~13.373 billion USD.
Overview of cash flow
Ethereum spot ETF recorded another day of net withdrawals totaling around $251 million.
The multi-day net withdrawals indicate profit-taking pressure or short-term portfolio adjustment by some institutional and retail investors. However, the total NAV remains in the tens of billions of USD, indicating that the previously accumulated cash flow is still having an impact.
Fluctuations by fund
Fidelity FETH and Grayscale ETHE were two funds with notable moves during the reporting session.
Fidelity FETH had a net withdrawal of $158 million in the day but still maintained a cumulative positive cash flow of about $2.586 billion, indicating that the previous Capital attraction was larger than the current withdrawal. Grayscale ETHE had a net withdrawal of ~$30.2657 million in the day and is in a cumulative net withdrawal of ~$4.592 billion.
Fidelity FETH
Fidelity FETH reported a net withdrawal of 158 million USD in the day, but the cumulative amount is still positive at ~2.586 billion USD.
This figure shows that Fidelity has attracted significant Capital in the past; the current withdrawal is a short-term adjustment to the total fund size.
Grayscale ETHE
Grayscale ETHE net withdrawal of about 30.2657 million USD in a day, with cumulative net withdrawal of ~4.592 billion USD.
Grayscale is still on a trend of larger cumulative net withdrawals than some other funds, reflecting differences in investor mix and trading behavior between funds.
Total NAV and weighting to Ethereum market
The total net asset value of Ethereum spot ETFs is approximately $25.591 billion, accounting for 5.46% of Ethereum's market Capital .
Despite the short-term net outflows, NAV remains relatively high, with cumulative positive net inflows of approximately $13.373 billion since ETFs began operations. The ~5.46% weighting suggests that ETFs are only a fraction of the total supply and liquidation of the Ethereum cryptocurrency market.
Factors to monitor
Continue to monitor daily cash flows, Ethereum price movements, and institutional investor movements to gauge the ETF's next direction.
Macro factors, regulatory news related to ETFs, and volatility in the broader cryptocurrency market could impact inflows and outflows to ETFs in the short to medium term.
FAQ
What has the Ethereum spot ETF just done?
On the reporting day, the Ethereum spot ETF recorded a net outflow of about $251 million, continuing its fourth consecutive day of net outflows.
How did Fidelity and Grayscale change?
Fidelity FETH withdrew 158 million USD but still accumulated positive ~2.586 billion USD; Grayscale ETHE withdrew ~30.2657 million USD and accumulated withdrawal ~4.592 billion USD.
What is the total NAV of the Ethereum ETF now and how much does it represent?
Total NAV is approximately $25.591 billion, representing approximately 5.46% of Ethereum market Capital ; cumulative net cash flow ~$13.373 billion.
