he nine spot Ethereum exchange-traded funds (ETFs) in the U.S. saw their first week of positive flows since launching in late July. The funds brought in $105 million for the week of August 5th, signalling renewed investor interest after a shaky start, according to SoSoValue.
The inflows come even as the price of Ethereum dropped 23% in early August. Leading the pack was BlackRock's iShares Ethereum Trust, which saw $188 million added last week to bring its assets to over $900 million. Meanwhile, the Grayscale Ethereum Trust continued to bleed assets with $180 million in outflows last week.
A Turnaround After Early Struggles
The Ethereum funds got off to a hot start after launching on July 23rd but soon saw investors pull back as crypto markets tumbled. The inflows last week suggest sentiment may be turning positive again.
Much will depend on whether Ethereum can maintain or build on its rally back above $2,500. More volatility could easily scare investors off again. But if prices stabilize, the ETFs could see a steady stream of new money.
Paving the Way for Ethereum Options
In another sign of the growing maturity of Ethereum investment vehicles, NYSE American proposed allowing options trading on three Ether funds. The move could pave the way for even more sophisticated Ethereum products aimed at institutional investors.
So, while unpredictable crypto markets could oppose these ETFs again, the trajectory seems positive. As long as asset managers continue reaching new milestones like options trading, investor interest could continue building.
