Investors Increase Ethereum ETF Holdings Amid Crypto Market Downturn

On August 5, total inflows into ETH-ETF reached $48.7 million, marking the second-highest result since the products were approved. This data is provided by SoSoValue.

The net outflow for the entire period decreased to $462 million.

Total withdrawals from the Grayscale Ethereum Trust (ETHE) increased to $2.16 billion. On August 5, the figure rose by $46.8 million.

Positive trends in the products were driven by inflows into ETHA from BlackRock ($47.1 million).

In addition, inflows were recorded for:

• ETHV from VanEck — $16.6 million;
• FETH from Fidelity — $16.2 million;
• ETH from Grayscale — $7.6 million;
• ETHW from Bitwise — $7.2 million;
• EZET from Franklin Templeton — $0.9 million.

BTC-ETF

Spot Bitcoin ETFs continued to experience negative inflow dynamics. Net outflows were recorded at $168.4 million.

Trading volume increased.

Investors contributed $21.8 million to BTC from Grayscale, $3 million to HODL from VanEck, and $2.9 million to BITB from Bitwise.

This was insufficient to offset withdrawals from GBTC by Grayscale ($69.1 million), ARKB by 21Shares ($69 million), and FBTC by Fidelity ($58 million).

No changes were recorded for other instruments.

Total inflows since the approval of BTC-ETF in January have decreased to $17.3 billion.

In a related development, 15,000 financial advisors at Morgan Stanley will begin offering their clients exchange-traded funds based on the first cryptocurrency, according to media reports.

Previously, Bitwise CIO Matt Hougan predicted Bitcoin could reach $100,000 by the end of the year. He cited the approval of instruments by major capital management platforms, including Morgan Stanley and Wells Fargo, as a driving factor.