Despite the ongoing market volatility, the United States-approved spot ETH exchange-traded fund (ETF) recorded an impressive $13 million weekly inflow. The latest record comes amid Bitcoin’s sharp decline within the past few days.
According to public data on the on-chain aggregator SoSoValue, the total trading volume of Ether-based ETFs was over $31 billion at the time of writing.
Although the spot ETH ETFs did not have a smooth journey like their Bitcoin-based counterparts, recent metrics show investors are becoming interested in the investment vehicle. The fund recently hit a significant milestone of $515 million, which marked its highest-ever weekly inflow and a three-week streak of positive inflow, with $295 million as its highest single-day inflow.
BlackRock Dominates With $213M
BlackRock’s Ethereum ETH ETF continues to dominate the market, pulling in $213 million in net inflows, bearing a total net inflow of $3,43 billion, and gathering an increased net asset of $3.5 billion locked.
Closely following BlackRock is Fidelity’s FETH. The asset management company achieved a stunning output, pulling in $1.45 billion in inflows with an increased net asset value of $1.46 billion.
Other EFTs also showed commendable performance in their activity. For example, Bitwise’s ETHW and Grayscale’s mini-ETF (ETH) brought in $1.6 billion and $400.67 million, respectively.
However, Grayscale’s ETHE saw an outflow record of $106 million, bringing its current assets under management (AUM) to $4.78 billion.
While ETH ETFs are recently experiencing back-to-back inflows, Bitcoin ETFs recorded a three-day consecutive outflow, with a volume of $227 million from December 21 to December 23. The total net value of the apex coin ETFs is $105.08 billion.
ETF Approval Boosts Performance
Following the United States’ approval of BTC and ETH ETFs earlier in the year, ETFs have shown a measure of strength in the face of crypto market instability.
Asset managers have grown in confidence in crypto ETFs, as the U.S. SEC has received a few official filings for other crypto ETFs. For instance, three asset management firms recently filed for a spot in Solana ETF, and the agency has started processing the S-1 applications.
