The nine U.S. spot Ethereum exchange-traded funds (ETFs) saw a significant shift on their second day of trading, recording $133.16 million in net outflows on Wednesday. This change reversed the positive flows observed on Tuesday.
Among these funds, the Grayscale Ethereum Trust (ETHE) experienced the largest net outflows, totaling $326.86 million. It was the only ether fund to log outflows, according to data from SosoValue.
On the positive side, Fidelity’s FETH led the inflows with $74.46 million, followed by Grayscale Ethereum Mini Trust’s $45.93 million, Bitwise ETHW’s $29.64 million, and VanEck ETHV’s $19.84 million in net inflows. BlackRock’s ETHA saw $17.44 million in net inflows, a notable decrease from Tuesday’s $266.55 million.
The overall trading volume for these spot ether ETFs reached about $951 million on Wednesday, compared to $1.05 billion on Tuesday, their first trading day. On Tuesday, the nine funds collectively logged around $106.78 million in net inflows.
The fluctuation in inflows and outflows highlights the volatile nature of the market as investors react to the launch and initial performance of these new financial instruments.