United States-based Ethereum (ETH) spot exchange-traded funds (ETFs) saw $24.34 million worth of net inflows on Aug. 13.
According to SosoValue data, despite the significant overall inflow into the United States Ethereum spot ETFs, the one offered by asset manager Grayscale Investments keeps losing capital. Data shows that Grayscale Ethereum Trust (ETHE) was the only ETF in its class to see negative net flows on Aug. 13, losing $31 million worth of capital over the trading day.
Inflows from the other ETFs more than offset the losses reported by Grayscale’s offering. BlackRock’s iShares Ethereum Trust ETF (ETHA) saw the most inflows, with $49.12 million added to its coffers. Fidelity’s Fidelity Advantage Ether ETF (FETF) followed with $5.41 million in net inflows, and Invesco’s Ether Fund (QETH) posted $813,690 in inflows.
Calm but profitable market
The total daily trading volume of the nine spot Ethereum ETFs reached about $191 million on Aug. 13. This shows significantly lower activity compared to the $285.9 million reported on Aug. 12.
Still, this calm in the Ethereum market may not last much longer. Market maker and trading firm Jump Trading moved 17,049 ETH worth nearly $46.5 million earlier on Wednesday, causing many to expect a sudden sell-off to follow.
Accordign to an Aug. 5 tweet by crypto analytics firm Lookonchain, Jump Trading moved the Ethereum from liquid staking protocol Lido and “transferred it out for sale.” The company furthermore has 21,394 ETH — held as liquid staking derivatives — worth $68.58 million left for sale.
Still, according to Arkham Intelligence data Jump Trading deposited 137.33 ETH worth $375,600 to Binance; 92,692 Tether (USDT) to Gate.io; 223,724 USD Coin (USDC) to Bybit; and 67,668 USDC to Coinbase. Over the last 24 hours the company lost nearly $2.3 million through its exposure to crypto volatility.
Sosovalue data also indicates that United States-based Bitcoin (BTC) ETF products saw $38.94 million worth of inflows on Aug. 13. This also follows recent reports that major United States investment bank Goldman Sachs holds more than $400 million worth of various Bitcoin spot ETF products.
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