Right then, let’s have a little chinwag about the US-based spot Ethereum ETFs, which have literally been the *darlings* of the cryptocurrency world these past few weeks. Honestly, if they were a pair of shoes, they’d be the ones getting all the compliments at a fancy soirée! 💁♀️✨
According to the oh-so-wise President of NovaDiusWealth, Nate Geraci (no, I don’t think he’s a distant relative of Geraci from my book club, but we live in hope), BlackRock’s iShares ETH ETF has been raking in cash like it’s Black Friday! Utterly fabulous, right? But hold on to your sparklers, because on Friday, August 29, it seems the party took a rather *unexpected* turn. Cue the dramatic music! 🎶
Ethereum ETFs Smashing Records (Until They Didn’t)
So, the latest gossip from the market is that these fabulous US Ethereum ETFs managed to lose a whopping $164.64 million in one day! 🤯 I mean, who knew the inflow streak could be as fragile as my last relationship? This marks the end of a delightful six-day inflow binge.
Let’s break it down, shall we? Grayscale led the charge of withdrawals, pulling a jaw-dropping $61.3 million from its Ethereum Mini Trust (also known as the *I need a holiday* fund). Meanwhile, Fidelity and its Ethereum Fund (FETH) joined the drama with a rather embarrassing $51.02 million exit. Honestly, *who* taught these ETFs about the art of the dramatic exit? 🎭
Grayscale’s other Ethereum Trust (ETHE) decided to join the festivities too, withdrawing $28.64 million to join the less-than-glamorous outflow gang. Bitwise Ethereum ETW, the last one standing, could only manage a mere $23.68 million outflow to round things off. Poor things, someone hand them a tissue! 🥲
But don’t let the melodrama fool you! Despite this Friday fiasco, the Ethereum ETFs managed to break the $1 billion mark over the week like they were about to win the golden ticket! According to SoSoValue-yes, that sounds like a place you’d go for a spa day-the ETH ETFs totaled a stunning $1.08 billion in inflows this week. Talk about bouncing back like a boomerang! 🪃
This $1 billion week was a *complete* flip from the previous week’s total outflow of $237.7 million, which is just the sort of drama we’d expect from reality TV! It’s that one week’s negativity that has only struck once since mid-May, so let’s all take a moment to breathe. 😅
Ethereum Price Overview: The Latest Gossip!
Moving on to the pricier bits, the price of our beloved Ether was feeling a bit blue on Friday, likely due to this chaotic outflow. As they say, don’t mix your emotions with your investments-it’s simply bad for the heart! 💔
As our heroine Ether stands today, she’s prancing about at around $4.383, which is a cheeky little over 2% rise in the past 24 hours! But let’s not sugarcoat it; she’s still down over 8% for the week. Someone give her a pep talk! 🗣️💪
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2025-08-31 18:14