According to data from Farside Investors, spot Ethereum ETFs experienced a net outflow of $133.3 million on Wednesday, July 24. Notably, the Grayscale Ethereum Trust (ETHE) alone saw an outflow of $326.9 million.
On their first trading day, spot ETH ETFs recorded over $1 billion in trading volume with net inflows of $106.6 million.
Farside Investors’ data indicates that the total outflow from the ETHE fund reached $811 million over the past two days. Meanwhile, the Grayscale Ethereum Mini Trust (ETH) saw outflows of $45.9 million and $15.1 million on July 24 and 23, respectively. Most inflows came from the Fidelity Advantage Ether ETF (FETH), amounting to $74.5 million.
Additionally, the WisdomTree Physical Ethereum Securities ETP (ETHW) and the VanEck Ethereum ETF (ETHV) registered inflows of $29.6 million and $19.8 million, respectively.
BlackRock’s iShares Ethereum Trust ETF (ETHA) saw inflows of $17.4 million yesterday, with total inflows reaching $266.5 million on July 23.
The Franklin Ethereum ETF Fund (EZET) and Invesco’s Ether Fund (QETH) had smaller net inflows of $3.9 million and $2.5 million, respectively. The 21Shares Core Ethereum ETF (CETH) remained neutral as the market shifted back into bearish momentum.
Following these significant net outflows, Ethereum’s price dropped by 7.6% over the past 24 hours, trading at $3,180 at the time of writing. ETH’s market cap is currently around $382 billion, with a daily trading volume of $21.3 billion. The broader crypto market is also in a bearish phase, with the global cryptocurrency market capitalization declining by 3.4% over the past day to $2.43 trillion, according to CoinGecko.