1.2 billion dollars in a week. The American exchange-traded funds (ETFs) linked to Ethereum have witnessed a surprising revival, recording net inflows of 288 million dollars on August 21, thus ending four consecutive days of decline.
According to SoSoValue data, the BlackRock ETHA fund leads the scene, capturing 233 million dollars in inflows, while the Fidelity FETH fund came in second with 29 million dollars, while the performance of the remaining issuers was limited to amounts ranging between 6 and 7 million dollars.
Ironically, these inflows came at a time when the price of Ethereum continues to decline, currently trading at 4,238 dollars, down 0.72% over 24 hours, and about 8% since the beginning of the week, although it remains up 15% since the start of the month. The previous series of declines has led to collective losses of nearly 926 million dollars for Ethereum funds.
In contrast, Bitcoin ETFs continue to bleed, recording 194 million dollars in outflows in the last trading session, raising their cumulative losses over five consecutive days to about 1.2 billion dollars. These withdrawals were primarily concentrated among five major issuers, including BlackRock, Fidelity, Grayscale, Ark 21Shares, and Franklin Templeton.
As for Bitcoin itself, it is currently trading at 113,216 dollars, down about 5% this week, and nearly 8.8% from its monthly peak of 124,128 dollars.
