Ethereum ETFs Hit Wall Street: Strong Start Derailed by $341M Outflows

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A few months after the SEC approved them, spot Ethereum ETFs officially began trading on July 23. Earlier this week, the nine new ETFs had a strong start, drawing over $106 million in net flows. While the initial response has been enthusiastic, the new ETFs are already facing some hurdles.

The debut of spot Ethereum (ETH) ETFs on Wall Street generated considerable buzz, with $108 million flowing into these funds. However, this amount represents only 16% of the $655 million that entered Bitcoin (BTC) ETFs during a similar period. Excluding the outflows from Grayscale’s ETHE and GBTC conversions, Ethereum’s share of ETF inflows jumps to 79%.

One of the main events of the last week was the launch of the spot ETH ETFs in the US.

After Bitcoin, Ethereum is now officially on Wall Street, and this has generated a wave of enthusiasm.

I spent the weekend analyzing the new ETH ETFs to date.