In its first week since their launch on July 23, Spot Ether exchange-traded funds (ETFs) in the United States experienced positive net inflows.
According to ETF tracker SoSoValue, the nine new US-based ETFs had an overall net inflow of $104.8 million for the week beginning Aug. 5.
The total value traded was $1.9 billion, increasing the net assets to $7.3 billion as of Aug. 9.
This influx of funds occurred despite a significant drop in the price of the underlying asset, ETH, which has decreased by 23% since the beginning of August.
Out of the nine funds, six saw positive net inflows for the week, with BlackRock’s iShares Ethereum Trust leading the way with $188.4 million.
