In their second day of trading, US spot Ethereum ETFs posted a net outflow of $113.3 million, according to data from SosoValue.
This was mainly due to significant sales of Grayscale's Ethereum Trust fund, which converted to a spot Ether fund on July 22.
Of the eight new Ether ETFs, seven recorded net inflows on their second day of trading. The largest net inflows came from Fidelity's Ethereum Fund (FETH) and Bitwise's Ethereum ETF (BITW), with $74.5 million and $29.6 million, respectively.
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On the other hand, BlackRock's iShares Ethereum Trust (ETHA), which had the most significant inflows on July 23, only gathered $17.4 million on July 24.
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Continued selling of Grayscale's ETHE weighed on new funds and led to a total of $326.9 million in outflows on the second day of trading.