Ethereum ETFs see 5 days continuous outflow, ETH trend dying?

Amid the recent surge in bullish sentiment surrounding Ethereum's price, U.S.-based spot Ethereum ETFs have experienced five consecutive days of outflows, marking the longest streak since their launch on July 23.

All these spot Ethereum ETFs have seen their gains eclipsed by significant outflows from the Grayscale Ethereum Trust (ETHE), which have surpassed $2.5 billion as of August 21.

According to data from Farside Investors, these outflows have occurred daily, with the only exception being August 12, when the Grayscale fund reported no net flows.

Between August 15 and 21, spot Ether ETFs recorded their longest streak of outflows, totaling $92.2 million. During this time, Grayscale's ETHE alone saw outflows amounting to $158.6 million. However, substantial inflows from BlackRock's iShares Ethereum Trust ETF (ETHA), the Fidelity Ethereum Fund (FETH), and the Bitwise Ethereum ETF (ETHW) helped mitigate the impact.

In contrast, the Grayscale Ethereum Mini Trust (ETH) has not reported any outflows since its inception and continues to enjoy positive flows, totaling $231.9 million.

Notably, ETHA became the first spot Ether ETF to surpass $1 billion in net inflows on August 20. However, the combined net flows from spot Ether ETFs remain in the negative, currently standing at -$458.5 million.