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Compiled by: Blockchain Knight
According to Farside Investors, inflows of spot Ethereum ETFs exceeded $2 billion in nearly four weeks, not including Grayscale’s nearly $2.5 billion outflow of ETHE.
ETF Store CEO Nate Geraci stressed thatIf this cumulative value is considered an ETF, it would be the fourth largest ETF launched so far.
The other three ETFs with higher cumulative value than the Ethereum ETF are spot BTC ETFs: BlackRock’s IBIT, Fidelity’s FBTC and ARK 21Shares’s ARKB.
Geraci added:In itself, iShares Ethereum ETF is close to launching the top 7 ETFs.”
Eric Balchunas, senior ETF analyst at Bloomberg, shared that ETFs have reached $911 billion in global traffic so far this year.The US$17 billion registered net traffic of spot Crypto asset ETFs traded in the United States accounts for nearly 2% of the total global traffic.
It is worth noting that IBIT is the third largest ETF based on inflows, close to US$20.5 billion.FBTC is also among the largest funds, with inflows approaching $10 billion.
Although the cumulative inflow of spot Ethereum ETFs exceeded the $2 billion mark, its performance is still lagging behind BTC ETFs.
Bitfinex analysts believe this is due to the overall weak performance of Ethereum over the past few weeks, with Crypto assets down 40% over the past month.
Since the launch of the Ethereum ETF, Jump Crypto, Wintermute and Flow Traders have sold 130,000 ETHs in total.
In addition, Japan’s recent sharp interest rate hikes have also shaken the macroeconomic landscape and curb the market’s risk appetite.
Aurelie Barthere, chief research analyst at Nansen, also said the sell-off in the Crypto asset market in March caused huge realized losses, especially for traders involved in multiple Crypto asset narratives.
also,A second sell-off occurred between July and August and revealed a growing correlation with stocks.ETH is under further pressure as the US economic growth is stable but slowing down and the valuation of traditional risk assets such as the US stock market is stretched.
