US Ethereum spot ETFs see $133M outflows a day after strong debut

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US spot Ethereum exchange-traded funds (ETFs) have seen a decline in net inflows after a strong start with nearly $107 million. According to data According to Farside Investors, investors withdrew around $133 million from these products on the second day of trading.

Fidelity’s Ethereum fund (FETH) overtook BlackRock’s iShares Ethereum Trust (ETHA) to become the day’s leader with $74.5 million in net inflows. Meanwhile, BlackRock’s fund raised nearly $17.5 million on Wednesday.

The first day of trading, ETHA led the group with over $266 million. ETHA flows and additional inflows from seven other Ethereum ETFs managed to offset Massive outflows from Grayscale's Ethereum ETF (ETHE) on its debut day.

However, a similar dynamic did not occur on the second day. Grayscale's ETHE lost nearly $327 million, bringing total outflows to $811 million since the fund's conversion. After the second day of trading, ETHE assets under management It fell to 8.3 billion dollarsdown from $9 billion prior to the debut of Ethereum spot ETFs.

In contrast, the Grayscale Ethereum Mini Trust (ETH), a spin-off of Grayscale’s ETHE, saw approximately $46 million in inflows. The fund is among the lowest-cost spot Ethereum products on the U.S. market.

Bitwise’s Ethereum ETF (ETHW) saw over $29 million in net inflows, while VanEck’s Ethereum ETF (ETHV) saw $20 million. Other gains were also seen in Franklin’s EZET and Invesco/Galaxy’s QETH.

21Shares' Core Ethereum ETF (CETH) saw no inflows.

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