The crypto market experienced a notable change in investment flows between Bitcoin and Ethereum ETFs on Wednesday, July 24.
While spot Bitcoin ETFs saw positive flows of $44.5 million, Ether ETFs faced large outflows of $133.3 million, as the hype around Ethereum faded. In contrast, Fidelity’s FETH and Bitwise’s ETHW ETFs had inflows of $74.6 million and $29.6 million, respectively.
However, these were outweighed by massive outflows of $326.9 million from Grayscale’s ETHE ETF, known for its high 2.50% fee.
This highlights concerns about fees and management within the ETH ETF market. Additionally, with the BlackRock Ethereum ETF (ETHA) experiencing a significant drop in inflows on its second day, this could indicate a shift in investor sentiment towards Ethereum-based ETFs.
Furthermore, while Grayscale’s Mini-Ethereum Trust saw inflows of $45.9 million, the overall AUM of Spot Ethereum ETFs decreased from $10.255 billion to $9.538 billion, hinting at a decrease in investor confidence.
