Ethereum ETFs 20-day inflow streak ends with $152M outflow

Spot Ethereum exchange-traded funds (ETFs) available in the US saw $152.3 million in outflows on Aug. 1, ending their longest streak of inflows.

According to Farside Investors’ data, the outflow amount was the largest since Jan. 8. It ended the 20-day streak of positive netflows for Ethereum ETFs, which have accumulated nearly $5.4 billion during the period.

The ended streak is not only the largest in duration, but also in total amount of inflows and average daily flow, which was approximately $270 million.

The previous record in duration was 19 days straight, which ended on June 13 and resulted in roughly $1.4 billion captured, with an average of $73 million per day.

However, it was largely eclipsed by the 18-day record that ended on December 19 and inched close to $2.5 billion, resulting in nearly $139 million per day on average.

James Butterfill, head of research at CoinShares, pointed out macroeconomic events as the likely causes for August 1 outflows. He noted last week’s statements by the Federal Open Market Committee (FOMC) and the strong economic data.

ETHA levels up

Until June 30, Ethereum ETFs registered around $4.3 billion in inflows. By adding close to $5.4 billion in positive net flows last month, Ethereum ETFs increased their flows by 126%.

BlackRock’s ETHA was the main reason behind the growth of Ethereum ETFs. As reported by Bloomberg senior ETF analyst Eric Balchunas, ETHA was the third-largest ETF by inflows in July, registering close to $4.2 billion and representing 78% of the total.

BlackRock’s Bitcoin ETF, IBIT, and Vanguard S&P 500 ETF (VOO) were the two funds besting ETHA. 

Usually, Balchunas calls the high flows into VOO and IBIT as “beta with a side of Bitcoin.” Yet, he highlighted on August 4:

“Top 3 ETFs (out of 4,432) in one month flows: $VOO, $IBIT, $ETHA. I used to say ‘Beta with a side of Bitcoin’ to describe this (which was most of 2024 leaderboard) but need a new phrase, ideally an aliteration, to incl Ether. If you think of anything i’m all ears.”

As of August 1, ETHA shows over $9.7 billion in cumulative flows. 

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