Ethereum ETFs are quietly reversing an ugly trend of low investor activity on the nine ETFs. Ether ETFs yesterday recorded transactions on six out of the nine available ETFs. The nine ETFs pulled a collective $74.4 million
Despite the increased investor activity, the ETF funds pulled in minimal inflow with none of the funds recording an inflow of over $100 million.
Farside Investors UK revealed that Blackrock’s ETHA led the inflows for the day pulling $56.3 million.
Grayscale’s ETH followed suit pulling in $12.5 million for the day displacing Fidelity’s FETH.
VanEck ETHV, Fidelity’s FETH, and Bitwise ETHW recorded minimal inflows of less than $10 million.
The three funds pulled in $3.6 million, $3.3 million, and $3.1 million. respectively.
Ethereum ETFs have recorded minimal inflows failing to pull in over $200 million in the last 2 weeks of trading. The Ethereum network is currently in the eye of the storm and undergoing serious reforms.
Vitalik Buterin Ethereum Co-founder recently announced an overhaul of the Ethereum internal team citing laxity and a loss of touch with reality.
Ethereum however is up 6.2% on a 7-day scale but is down 32.7% from its all-time high.
Ethereum has not breached its all-time high for 3 years drawing criticism from its community. The Altcoin is speculated to be flipped by Solana in the coming years as the latter continues to expand its utility and community.
