According to the President of NovaDiusWealth, Nate Geraci, BlackRock’s iShares ETH ETF recorded the second-highest inflows of more than 4,400 exchange-traded funds in the past week. However, the US-based Ethereum ETFs broke their inflow streak after seeing significant investor withdrawals on Friday, August 29.
Breaking down the data, Grayscale led the pack on the day, with more than $61.3 million withdrawn from its Ethereum Mini Trust (with the ticker ETH). Meanwhile, Fidelity’s Ethereum Fund (FETH) suffered the second-highest net outflow ($51.02 million) on Friday.
Grayscale’s other Ethereum Trust (ETHE) recorded a total daily net outflow of $28.64 million to close the week. Bitwise Ethereum exchange-traded fund (ETHW) was the only other Ether ETF to record any activity on Friday, posting a total net outflow of $23.68 million on the day.
Despite this negative performance on Friday, the Ethereum ETFs still crossed the $1 billion mark on the weekly timeframe. According to data from SoSoValue, the ETH exchange-traded funds registered a weekly total net inflow of over $1.08 billion over this week.
As of this writing, the price of ETH stands at around $4.383, reflecting an over 2% jump in the past 24 hours. However, the second-largest cryptocurrency is still down by more than 8% on the weekly timeframe.
