During this period, total assets under management (AUM) declined to $146.48 billion. This figure represents roughly 6.46% of Bitcoin’s market capitalization. Fidelity’s FBTC led the outflows with a $331.42 million redemption by investors. 

ARK Invest’s ARKB product followed closely with a $327.93 million withdrawal. Grayscale’s GBTC recorded $66.79 million in losses, while BlackRock’s IBIT saw a relatively minor $2.58 million outflow. 

Despite the decline, trading volumes across spot Bitcoin ETFs remained strong. The total volume reached $6.13 billion, with BlackRock’s IBIT contributing $4.54 billion alone. This indicates continued investor interest despite the volatility. 

Ether ETFs End 20-Day Inflow Streak with $152M Outflow 

Meanwhile, spot Ether ETFs ended their longest-ever inflow streak on Friday, following 20 consecutive trading days of net inflows. That day, the sector recorded $152.26 million in total outflows. As a result, Ether ETF AUM dropped to $20.11 billion. 

This amount equals about 4.70% of Ethereum’s market cap. Grayscale’s ETHE led the withdrawals with a $47.68 million outflow. Bitwise’s ETHW product followed with a $40.30 million reduction, and Fidelity’s FETH recorded a $6.17 million decline. 

On the other hand, BlackRock’s ETHA remained flat for the day, reporting no inflows or outflows. Its assets under management held steady at $10.71 billion. 

Across all Ether ETFs, total trading volume hit $2.26 billion. Grayscale’s ETHE contributed the most, with $288.96 million in daily volume, reflecting ongoing market volatility. 

Institutional Demand Rises: Ethereum Accumulation Accelerates 

According to a recent report by Standard Chartered, institutional investors have increased their Ethereum purchases. Since early June, crypto treasury firms have acquired roughly 1% of Ethereum’s circulating supply. 

This steady accumulation, combined with consistent inflows into U.S. spot Ether ETFs, has become a key driver of Ethereum’s recent price rally. The bank projects that ETH could surpass $4,000 by year-end. 

Meanwhile, analysts highlight staking and DeFi participation as added incentives for corporate holdings. They believe that Ethereum’s share in institutional portfolios could grow significantly—possibly reaching up to 10% of total supply over time. 

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Targets and Support Levels

Pseudonymous analyst venturefounder stated on X (formerly Twitter) that ETH is close to completing this pattern. If Ethereum confirms $3,800 as support, the first price target is $5,349, followed by $6,457, and finally $7,238.

This represents a potential 97% increase from its current price of $3,669, as per CoinMarketCap data.

Despite ETH’s 47% rally since early November, the analyst pointed out that its price hasn’t “exploded” yet due to the strength of the U.S. Dollar Index (DXY). Historically, significant breakdowns in the DXY have preceded major crypto market surges.

The DXY is currently at 105.78, and a potential decline could pave the way for ETH to break out significantly.

Other Analyst Predictions

• Titan of Crypto highlighted that the weekly Ichimoku Golden Cross indicates a target of $5,800 for ETH.
• Wolf predicted ETH could reach $9,000-$10,000 by May 2025.
• Doctor Profit advised his followers that “Anything below $4K is a gift for the mid-term,” emphasizing that the current levels still present a good buying opportunity.

Record Inflows for Spot Ether ETFs

On Nov. 29, spot Ether ETFs in the United States recorded an all-time high for daily inflows. A total of $332.9 million flowed into these ETFs, surpassing the previous record of $295.5 million set on Nov. 11 by $37.4 million.

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On September 16 the VanEck Ethereum Strategy ETF (EFUT) will halt trading; fund assets will be liquidated and sent to investors by September 23. This phase marks a strategic shift in emphasis as spot bitcoin ETFs have recently attracted tremendous popularity.

Not too different, The ETF Store President Nate Geraci spoke about the expansion. Spot coins, he has argued before, would render ETFs based on futures useless. On X he said, “VanEck most definitely saw EFUT as a marketing cost.”

EFUT as of September 6 reveals beginning in 2023 assets under management (AUM) of roughly $21 million. Conversely, started in June the about $55 million in AUM VanEck’s spot Ether ETF ( ETHV). Spot ETFs, with their total AUM of over $6.5 billion, have outperformed products based on futures; their funds value less than $170 million.

Future-based ETFs could underperform their spot equivalents as rolling over contracts results in expenses and futures expire on frequent basis. This difference has attracted spot ETFs more to investors seeking quick access to assets like Ether or Bitcoin.

Spot Ether ETFs were approved in July this year by the Securities and Exchange Commission, which was instrumental in these products’ growth. As of now, Grayscale’s Ethereum Trust (ETHE) is still the largest spot Ether ETF with total AUM of around $4.2 billion. The prevalence of the spot cryptocurrency ETFs also underlines the changing configuration of the Crypto investment market.

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Based on statistics from SosoValue, Grayscale’s ETHE was the only spot ether fund to show net outflows on Tuesday—$31 million left the ETF.

Three other ETFs’s inflows balance that. Following no flows the day before, BlackRock’s ETHA noted the highest inflows among the funds yesterday—$49.12 million. Inveco’s QETH showed $813,690 in net inflows, while Fidelity’s FESH registered $5.41 million.

On Tuesday, the nine-spot ether ETFs traded overall for $191 million, compared to $285.9 million on Monday.

SosoValue data indicates, in the in the meantime, that on Tuesday, the 12 spot bitcoin ETFs in the United States recorded net inflows of $38.94 million.

BlackRock’s IBIT, the biggest bitcoin ETF based on net assets, mostly contributed to that. Yesterday, it saw net inflows of $34.55 million.

With net inflows of $22.56 million, Fidelity’s Facebook TC followed, and Bitwise’s BITB logged $16.54 million.

With $28.65 million leaving the product, Grayscale’s GBTC’s outflow run now spans nine straight days. ArkB of Ark and 21 Shares had $6 million in net withdrawals yesterday.

The combined daily volume of the 12 ETFs on Tuesday was $1.18 billion, somewhat less than the $1.3 billion traded on Monday.

At the time of writing, Ether had changed hands at $2,533 with a 3.34% gain.

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Especially, Grayscale’s ETHE shows zero flows following outflows for 14 days. With net outflows of $2.92 million, VanEck’s ETHV was the only spot ether ETF to suffer negative flows. ETHV had not reported outflows since July 23 before now. Fidelity’s FEST recorded net inflows of $3.98 million, while Bitwise’s ETHW showed inflows of $2.86 million. Franklin’s EZET drew roughly $1.01 million in inflows.

Monday’s total daily trading volume for the spot ether ETFs topped $286 million, rising from $166.9 million on Friday. On Monday, the 12 American spot bitcoin ETFs revealed $27.87 million in net inflows.

With $35.4 million, Ark and 21 Shares had the most net inflows among the funds. Grayscale’s experienced inflows of $7.85 million, while BlackRock’s IBIT noted $13.45 million in net flows With $17.06 million and $11.77 million leaving the funds, respectively, Bitwise’s BITB and Grayscale’s GBTC suffered withdrawals.

Over the past 24 hours, the value of bitcoin increased 1.96% to roughly $59,362 at the time of writing, Ether gained 4.46% to trade at $2,656.

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ETF tracker SoSoValue reports that for the week starting Aug. 5, the nine newly introduced US-listed ETFs enjoyed a positive overall net inflow of $104.8 million. It also noted that $1.9 billion in total value was traded, therefore raising the net assets as of Aug. 9 to $7.3 billion.

The influx number arrived amid a significant price fall for Ether, the underlying asset, which has dropped 23% from August’s start.

Six of the nine funds had overall positive net flows for the week; BlackRock’s iShares Ethereum Trust (ETHA) topped the others with $188.4 million.

After 13 days of trading, the BlackRock fund currently totals more than $900 million; it has not yet had an outflow day. With $44.65 million in inflows last week, the Fidelity Ethereum Fund (FESH) had a total of $342 million, its closest competition.

Grayscale’s Mini Ethereum Trust (ETF), with $19.8 million; VanEck Ethereum ETF (ETHV), with $16.6 million; Bitwise Ethereum ETF (ETFW), with $11.7 million; and Franklin Ethereum ETF (EZET), with $3.7 million in inflows for the week.

Zero flows for the period for the Invesco Galaxy Ethereum ETF (QEH) and the 21Shares Core Ethereum ETF (CETH).

If Grayscale’s Ethereum Trust (ETHE) hadn’t lost $180 million in outflows over the week, the nine together would have enjoyed substantially more total influx.

Currently at $2.3 billion, Grayscale’s spot Ethereum ETF’s ongoing outflow of assets has led to an overall outflow of $406.4 million for all nine ETFs, according to Farside Investors.

ETF issuers are also orienting to have options products introduced for their ETH funds.

The NYSE American LLC requested a rule change on Aug. 7, allowing it to offer and trade options contracts for three ETH ETFs from Grayscale and Bitwise.

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The NYSE American sought in an Aug. 7 application to the Securities and Exchange Commission (SEC) permission to list and trade options for the Bitwise Ethereum ETF (ETHW), the Grayscale Ethereum Trust (ETHE), and the Grayscale Ethereum Mini (ETH). The trade underlined that allowing options trading on these Ether ETFs will help investors by offering a cheap investing instrument to increase Ether exposure. The submission also said that adding options trading will provide investors with a hedging tool to fulfill ETH product and position demand.

Comments on the proposal should be sent in throughout the following 21 days. Especially, the demand for a regulation modification by NYSE American would apply only to Grayscale and Bitwise, the two locations Ether funds mentioned on its exchange apply.

The Nasdaq options exchange requested the SEC on Aug. 6 to enable options trading on the BlackRock iShares Ethereum Trust (ETHA), and their proposal mirrors that of NYSE American. Nasdaq’s demand for ETH ETF alternatives would apply only to BlackRock’s fund, the sole Ether ETF listed on the Nasdaq, same as the suggested regulation modification by NYSE American.

Since the regulator has not yet approved options trading on spot Bitcoin ETFs, which debuted in January and currently command about $50 billion in assets under management, both NYSE American and Nasdaq might suffer delays in SEC clearance. The half dozen options exchanges, including Nasdaq, who had asked to offer options on spot BTC ETFs additional time was required to reach a judgment, the SEC said in July.

Hedge funds and financial planners make extensive use of options to protect against sudden market swings, including the 28% decline in Ether’s spot price on Aug. 5. More unusual tactics, including the “covered strangle” promoted by financial research company 10x Research, also draw their roots from them.

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Investor Reaction to Market Downturn

According to Farside Investors, this marked the third-largest inflow day for the iShares Ethereum Trust as investors sought to capitalize on Ether’s 18% price drop on August 5. ETF Store President Nate Geraci noted that the $870 million inflow positions BlackRock’s spot Ether ETF among the top six best-performing ETFs launched in 2024. Four of the other top-performing ETFs are spot Bitcoin ETFs, including BlackRock’s IBIT.

Performance and Market Trends

BlackRock’s ETHA also recorded an inflow of $47.1 million on August 5 and 6, during the industry’s “Black Monday,” resulting in the liquidation of over $600 million in leveraged long positions. Despite the market crash, the combined inflows for ETHA on August 5 and 6 ranked among the top 10% of ETFs launched this year, Geraci stated. This success came despite spot Ether ETF issuers not offering staking yields or options trading.

Broader Market Impact

Spot Ether ETFs had their best day since their July 23 launch, with a combined inflow of $98.4 million on August 6. Fidelity’s spot Ethereum ETF reported the second-largest inflow of $22.5 million on August 6, while the Grayscale Ethereum Mini Trust and Franklin Ethereum ETF saw inflows of $4.7 million and $1 million, respectively. Anthony Sassano, host of the Ethereum show The Daily Gwei, commented, “TradFi is slurping up that ETH.”

However, the higher-fee Grayscale Ethereum product ETHE was the only spot Ether ETF to record an outflow of $39.7 million. Despite the strong performance of ETHA, spot Ether ETFs experienced a total outflow of $473.9 million when accounting for the $2.2 billion outflow from Grayscale’s ETHE.

Ether showed a partial recovery, rising by 13.5% to $2,494 after hitting a low of $2,197 on August 5, according to CoinGecko data.

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Final Steps for Approval

A July 15 Reuters story claims that applicants turning in final offering documentation to the SEC by the end of this week will now determine whether or not the SEC approves. BlackRock, Franklin Templeton, and VanEck among others are among the candidates. Other companies vying to introduce their Ether products next week include Fidelity, ARK 21Shares, Grayscale, Bitwise, and Invesco Galaxy.

Like with the SEC’s handling of the spot Bitcoin ETFs, one industry source told Reuters all eight spot Ether ETFs are likely to debut concurrently.

SEC’s Final Instructions

With all applicants obliged to declare the cost related to their spot Ether ETFs, Bloomberg ETF analyst Eric Balchunas pointed out that the SEC has directed issuers to provide their final S-1 filings by July 16. After trading hours conclude, he expects the SEC to formally approve the S-1s next Monday, therefore enabling the spot Ether ETFs to begin trading on Tuesday, July 23.

Industry Anticipation

With less concerns being checked back and forth between issuers and the SEC, bitwise’s chief compliance officer, Katherine Dowling, said the process is almost over. “That then points all the way in our direction of proximity. On the launch, we are almost at the finish line, Dowling remarked on July 9.

Like the spot Bitcoin ETFs which have attracted notable interest since its inception, Bitwise’s chief investment officer Matt Hougan projected that the spot Ether ETFs might draw in close to $15 billion in inflows in the first 18 months of operation.

Should authorized, the location Ether ETFs would be listed on the Chicago Board Options Exchange, Nasdaq, and New York Stock Exchange.

Reflecting the market’s expectation of the ETF debut and the possible flood of institutional investment, ether is trading at $3,414, up 3.6% over the previous 24 hours.

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An Ethereum whale has been observed withdrawing 16,449 ETH, valued at approximately $50.3 million, from Binance. This substantial transaction took place as the price of Ethereum rebounded above $3,000.

According to on-chain data provider Spot On Chain, this whale’s activity marks their first significant accumulation of Ethereum and has generated considerable interest. The entire amount has been moved to a new wallet, where it currently remains held.

Might interest you: Ethereum Bulls Reignited as US Investors Signal Bottom with Vanishing Discounts

The timing of this withdrawal is particularly notable as it coincides with the anticipated launch of Ether exchange-traded funds (ETFs) next week. Spot On Chain speculated on the X social platform whether this large-scale transfer could signal a bullish outlook for Ethereum.

The introduction of an ETF is expected to increase institutional interest and investment in Ethereum, potentially driving up its price. The recent whale activity, coupled with the upcoming ETF launch, suggests a period of heightened interest and potential volatility for Ethereum.

According to Cointelegraph’s market report, Ether’s price surged by 10.11%, reaching $3,113 on July 9, up from a low of about $2,830 the previous day. This ETH/USD rally coincided with CoinShares’ weekly report, which indicated that Ether-linked investment funds received inflows of $10.2 million for the week ending July 5.

A few days after these inflows, asset management companies VanEck and 21Shares amended their S-1 registrations with the United States Securities and Exchange Commission (SEC) to seek approval in July and list and trade shares of a spot Ether ETF. 21Shares also submitted an updated form for its Core Ethereum ETF. While neither filing provided an exact launch date for US exchanges, both stated that the ETFs would launch “as soon as practicable after the effective date” of the registration.

Meanwhile, competition among ETF sponsors has been increasing ahead of the expected rollout of spot Ether funds later this month. On July 9, Invesco and Galaxy set a 0.25% management fee for the Invesco Galaxy Ethereum ETF in a filing to US regulators.

The SEC approved spot Ether ETFs in May. However, investors withdrew $61 million from Ether investment products between June 24 and 29, bringing the total outflows for the month’s end to $119 million and June’s total balance to $37 million in funds withdrawn.

The large-scale ETH transfer by the whale and the anticipation of spot Ether ETFs signal a critical period for Ethereum. Increased institutional interest and investment driven by the introduction of ETFs could lead to significant price movements and increased market volatility in the near term.

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