The United States Spot Ether Exchange-Traded Funds (ETF) recorded nearly half a billion dollars in daily net outflows on Monday, which marked their highest a day since launch, according to data from the firm firm Farside Investor.
The data of the Farside investors Shut up That place ether (Eth) ETFs have net outflows of $ 465 million on Monday, their second day of streams since Destroying a 20-day flow of flow On Friday with net outflows of $ 152 million.
The sharp pullback suggests a potential transition to the investor’s sentiment after a strong performance in July, where the area ETFS ETFS Found a record of $ 5.43 billion in net inflows.
This coincides with ETH which drops to $ 3,380 on Sunday, down 12% from Thursday price of $ 3,858. On Tuesday, the token recovered, rising to $ 3,629, According to In coingecko.
Blackrock takes the biggest hit while ETFs cool off
Sosovalo data Shut up Asset manager Blackrock’s Ishares Ethereum Trust (ETHA) took the biggest hit on Monday, seeing nearly $ 375 million in net outflows. The ETF still has a combined Net Inflow of $ 9.3 billion and net assets of $ 10.7 billion.
The Fidelity Ethereum Fund (Feth) had the second largest flow for the day, which recorded $ 55.11 million. In total, the ETF has a combined -combined net inflow of $ 2.2 billion and net assets of $ 2.4 billion.
Grayscale ETFs also saw flows on Monday, with the Grayscale Ethereum Mini Trust (ETH) seeing a net flow of $ 28 million and the Grayscale Ethereum Trust (ETHE) seeing $ 6.9 million.
ETHE of Grayscale has a total combined net of $ 4.3 billion and net assets of $ 4.1 billion, while Grayscale’s ETH has combined -a combination of $ 1.1 billion and net assets of $ 2.3 billion.
Related: Ether-stacking bitmine crosses $ 3b milestone as et rally 6%
Whales and institutions continue to buy ETH
While Ether ETF has seen heavy flow, blockchain data suggests institutional demand for ETH remains strong.
On Tuesday, the Blockchain Analytics Firm LookonChain reported That the three wallets are believed to be owned by whales or institutions earned a joint 63,837 ETH, worth nearly $ 236 million, through an over-the-counter deal with Falconx and Galaxy Digital.
Since July 9, lookonchain has identified 14 new collective purses that have accumulated 856,554 ETH, worth more than $ 3.1 billion.
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