Fidelity's FETH and Grayscale's ETHE Drive $48.6M in Outflows Across U.S. Ether ETFs

The Fidelity Ethereum Fund (FETH) saw a record-high daily outflow of over $25 million on October 1, 2024, surpassing all other U.S.-based spot Ether ETFs except for Grayscale’s Ethereum Trust (ETHE).

According to data from Farside Investors, total outflows for Ether ETFs across nine issuers amounted to $48.6 million, with FETH, ETHE, and the Bitwise Ethereum ETF (ETHW) recording outflows of $25 million, $26.6 million, and $0.9 million, respectively.

Ethereum ETF Flow (US$ million) – 2024-10-01
TOTAL NET FLOW: -48.6
ETHA: 0
FETH: -25
ETHW: -0.9
CETH: 1.2
ETHV: 2.7
QETH: 0
EZET: 0
ETHE: -26.6
ETH: 0
For all the data & disclaimers visit:https://t.co/FppgUwAthD
— Farside Investors (@FarsideUK) October 2, 2024

The report also revealed that only two ETH ETFs managed to attract new captial: 21Shares’ Core Ethereum ETF (CETH) and the VanEck Ethereum ETF (ETHV), which gained $1.2 million and $2.7 million, respectively. The other ETFs showed minimal or no significant changes in inflows.

Grayscale’s Ethereum Trust (ETHE) continues to experience consistent daily outflows. Over the past three months, Grayscale has seen outflows nearing $3 billion, while other companies have maintained steady inflows. As a result, total investments in U.S. spot Ether ETFs have dropped by $572 million.

Fidelity’s FETH remains the second-largest Ether ETF with total investments at $453.5 million, while BlackRock’s iShares Ethereum Trust (ETHA) leads the market, holding over $1.14 billion as of October 1.

Meanwhile, the Bitcoin ETF market experienced a sharp decline, with outflows totaling $242.6 million on October 1, marking the largest decrease in nearly a month. Fidelity’s Wise Origin Bitcoin Fund (FBTC) led with an outflow of $144.7 million, followed by ARK 21Shares Bitcoin ETF (ARKB), which saw an outflow of $84.3 million.

In April 2024, just three months after the launch of U.S. spot Bitcoin ETFs, Fidelity’s FBTC had amassed over 150,000 BTC in its portfolio, amounting to more than $10.1 billion in assets under management. This positioned FBTC as the third-largest spot Bitcoin ETF in the U.S., trailing BlackRock’s iShares Bitcoin Trust (IBIT) and Grayscale’s converted Bitcoin Trust (GBTC).

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