✨ A Recap of the Second Day in U.S. Spot ETH ETF Trading
posted 25 Jul 2024
The total net inflows on the second trading day (July 24) turned negative (-$133.16 million), according to data from SoSoValue.
No issuers reported significant inflows, while clients withdrew $326.86 million from the Grayscale Ethereum Trust (ETHE).
Flow data for spot ETH ETFs in the US for July 24 Source: SoSoValue
The Fidelity ETF (FETH) showed the largest influx on that day, adding $74.46 million. This was followed by the Ethereum Mini Trust from Grayscale, which saw inflows of $45.43 million, and Bitwise's ETHW, with inflows of $29.64 million.
Amid these transactions, the cryptocurrency market experienced a noticeable decline in prices. At the time of writing, ETH had fallen by more than 8% over the day, nearing the $3,150 mark.
It appears that traders felt the impact, as data from Coinglass shows that positions worth more than $292 million were liquidated (at the time of writing).
Notably, the U.S. spot Bitcoin ETFs received total net inflows of $44.51 million on the same day. Nonetheless, BTC also experienced a decline of several percent over the day.
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