Ethereum Spot ETF Ends 19-Day Streak of Net Inflows, Experiences Slight Outflow of $2.18 Million

US Ether Spot ETF Ends 19-Day Streak of Net Inflows

The US Ether spot ETF ended its longest-ever streak of 19 consecutive days of net inflows last Friday, recording a net outflow of $2.18 million. This mild reversal coincided with a sharp escalation in the long-standing conflict between Israel and Iran, leading to a simultaneous decline in market and cryptocurrency prices.

Source: SoSoValue

This record of 19 consecutive trading days of net inflows began on May 16, surpassing the previous record of 18 days set from late November to mid-December 2024. According to data from SoSoValue, only two funds experienced significant changes in capital flow last Friday: Grayscale’s Ethereum Trust attracted a net inflow of $6.7 million, but this was offset by an outflow of $8.9 million from Fidelity’s FETH fund.

The Ether spot ETF exhibited strong demand during the continuous inflow period, with several days where total inflows surpassed those of Bitcoin ETFs. This trend has pushed the cumulative net inflow of the Ether ETF to a new high since its launch in July 2024, with the total net asset value of the funds now exceeding $10 billion.

However, with the worsening situation in the Middle East, the trend of continuous inflows into the ETF has come to an end. The exchange of fire between Israel and Iran has triggered market risk aversion, leading to a significant decline in the cryptocurrency market last Friday, with a total liquidation amount reaching $1.1 billion. Ether (ETH) dropped from $2,760 to around $2,500 on that day, at one point experiencing a decline of nearly 10%. As of the publication of this article, Ether has slightly rebounded to $2,570.

It is noteworthy that Ether has recently become one of the main targets in the corporate cryptocurrency reserve craze. The US online gambling marketing company SharpLink Gaming purchased $463 million worth of Ether on Friday, becoming the second-largest individual holder after the Ethereum Foundation. However, the company’s stock price plummeted over 70% in after-hours trading last Thursday, primarily related to a new filing submitted by SharpLink to the US Securities and Exchange Commission (SEC).

Related report: “SharpLink Gaming’s Stock Price Plummets 70% After ‘Ether Version of MicroStrategy’ News—What Happened?”

Bitcoin ETF Reaches New Heights

According to data from SoSoValue, despite Bitcoin’s price also declining by about 3% last Friday due to the tensions in the Middle East, the Bitcoin spot ETF still recorded net inflows of approximately $302 million, bringing the cumulative net inflow total of these funds to a new peak of $45.6 billion.

Source: SoSoValue

The net inflow into these ETFs was led by BlackRock’s IBIT fund, which recorded a net inflow of $239 million, followed by Fidelity’s FBTC fund with an amount of $25.24 million.

RedStone co-founder Marcin Kazmierczak stated in an interview with The Block: Data Source