US Ethereum spot ETFs see $133 million outflows one day after strong debut

US spot Ethereum exchange-traded funds (ETFs) have seen a decline in net inflows after a strong start with almost $107 million. According to data from Farside Investors, investors withdrew around $133 million from these products on the second day of trading.

Fidelity’s Ethereum Fund (FETH) outpaced BlackRock’s iShares Ethereum Trust (ETHA) to become the day’s leader with nearly $74.5 million in net inflows. Meanwhile, BlackRock’s fund took in nearly $17.5 million on Wednesday.

On the first day of trading, ETHA led the pack with over $266 million. ETHA’s flows and additional inflows from seven other Ethereum ETFs managed to offset massive outflows from Grayscale’s Ethereum ETF (ETHE) on its debut day.

However, a similar dynamic did not play out on the second day. Grayscale’s ETHE bled nearly $327 million, bringing the total outflows to $811 million in the last two days.

The Bitwise Ethereum ETF (ETHW) witnessed over $29 million in net inflows, while the VanEck Ethereum ETF (ETHV) reported $20 million. Other gains were also seen in the Franklin Ethereum ETF (EZET) and the Invesco Galaxy Ethereum ETF (QETH).

21Shares Core Ethereum ETF (CETH) saw zero flows.