##  [# Spot Ethereum ETFs Receive Inflows Despite Market Plunge](/sections/news/spot-ethereum-etfs-receive-inflows-despite-market-plunge) 

 

# Spot Ethereum ETFs Receive Inflows Despite Market Plunge

 

 

Spot Ethereum ETFs attracted nearly $49 million on Monday as ETH’s price tumbled.



 

 

 

 

 [![DJ](/sites/default/files/styles/author_image_icon/public/2024-07/5.png?itok=LA-jevm_)](/authors/dj-shaw) 

[By DJ Shaw ](/authors/dj-shaw)

 Aug 06, 2024

 Edited by: James Rubin

 

 

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Newly launched spot [Ethereum ETFs](/topics/ethereum) generated inflows Monday, a rare bright spot on a day when risk-on assets, including cryptocurrencies, plunged.

The positive flows occurred even as ether, the crypto that the spot Ethereum funds track, dropped more than 25% at one point Monday from the previous day, according to data from CoinMarketCap. It has recently recovered some of the lost ground to trade at about $2,500, up 4.5% from Monday, same time.

The Ethereum ETFs recorded $48.8 million in inflows, according to [data](https://farside.co.uk/?p=1518) from U.K. asset manager Farside Investors.

[![ETHA Fund Flows Chart](/sites/default/files/inline-images/image_143.png)](/etha)[**BlackRock’s iShares Ethereum Trust (ETHA)**](/ETHA) led the pack with $47.1 million in inflows. [**VanEck Ethereum ETF (ETHV)**](/ETHV) and [**Fidelity Ethereum Fund (FETH)**](/FHTH) each pulled in about $16 million. The [**Grayscale Ethereum Mini Trust (ETH)**](/ETH) saw inflows of $7.6 million.

The nine spot Ethereum ETFs [debuted on July 23](/sections/news/spot-ethereum-etf-approval-sec)—the second group of funds based on the ongoing price of a major cryptocurrency. Spot Bitcoin ETFs started trading on Jan. 11 following nearly a decade of resistance by the Securities and Exchange Commission (SEC) to such products.

Ether is second largest cryptocurrency by market capitalization with a roughly $300 billion market capitalization. Bitcoin has a more than $1.1 trillion market cap, according to CoinMarketCap.

## Spot Ethereum Net Outflows

The [**Grayscale Ethereum Trust (ETHE)**](/ETHE) had $46.8 million in outflows, the only product to experience outflows on Monday. The fund differs from the other spot Ethereum funds because it is a conversion from an existing trust and carries the highest expense ratio, 2.5%.

Spot Ethereum ETFs have recorded net outflows of $462.4 million in their nearly two weeks of trading, as ETHE's over $2.1 billion in outflows have outpaced inflows to the other spot Ethereum funds. Still, the funds' debut has been considered largely a success.

A market downturn tied to fresh angst over a potential U.S. recession and other macroeconomic uncertainties caused all three major indices to sink and tech and consumer discretionary ETFs to slump on Monday. The S&amp;P 500 and tech-heavy Nasdaq dropped 3% and 3.4%, respectively.

Spot Bitcoin ETFs on Monday generated $168.4 million in net outflows, according to Farside. The [**Grayscale Bitcoin Trust ETF (GBTC)**](/GBTC) and [**ARK 21Shares Bitcoin ETF (ARKB)**](/ARKB) led the outflows, with each shedding about $69 million in assets. The 11 spot bitcoin funds have generated about $17.3 billion in net inflows since their start.

 
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 [ DJ Shaw Finance Reporter ](/authors/dj-shaw) 

 

 

  A graduate of The University of Texas, Arlington with a BA in Communications, DJ has covered retirement plans, mortgage news, and financial advisor…   [View Bio](/authors/dj-shaw)

 



 

 


 Related Topics  [Ethereum](http://www.etf.com/topics/ethereum) 

 [Volatility ETFs](http://www.etf.com/topics/volatility-etfs) 

 [Grayscale](http://www.etf.com/topics/grayscale) 

 [Blackrock](http://www.etf.com/topics/blackrock) 

 [Van Eck](http://www.etf.com/topics/van-eck)