{"id":283,"date":"2024-09-26T03:31:53","date_gmt":"2024-09-26T03:31:53","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=283"},"modified":"2024-09-26T03:31:53","modified_gmt":"2024-09-26T03:31:53","slug":"ethereum-spot-etfs-record-best-performing-day-since-early-august","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=283","title":{"rendered":"Ethereum Spot ETFs Record Best-Performing Day Since Early August"},"content":{"rendered":"
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On Tuesday, Ethereum spot exchange-traded funds (ETFs) registered a significant positive performance for the first time in nearly two months. The crypto-based investment products have seen a sluggish performance throughout September and have failed to impress investors amid the market pump.<\/p>\n

Ethereum ETFs See Best Day Since August<\/h2>\n

Last week, spot Ethereum (ETH) ETFs saw their sixth consecutive week of negative net flows, with $26.26 million in outflows. While Bitcoin (BTC) spot ETFs continued the positive streak with their second week of inflows in a row, CoinShares\u2019 weekly report noted<\/a> that products based on the second-largest cryptocurrency remained \u201coutliers.\u201d<\/p>\n

In the last thirty days, the investment products were disappointing due to the continuous large outflows from Grayscale Ethereum Trust (ETHE) and the insufficient activity from the newly issued ETFs.<\/p>\n

As reported<\/a> by Bitcoinist, the investment products saw no inflows or outflows across all issuers on August 30 and September 2, which has not been seen since the launch of US spot crypto-based ETFs in January.<\/p>\n

Additionally, the spot ETH ETFs trading volume was comparable with those before their launch, accounting for only 15% of the volume registered on their launch week in the US.<\/p>\n

The disappointing performance continued as this week started. The ETH-based products had one of their worst days since their launch in late July, with a net outflow of $79.3 million on Monday.<\/p>\n

\"Ethereum\"<\/p>\n

This marked the Ethereum ETFs\u2019 fifth-largest negative net flow day since their creation and their worst-performing day since July 31. While most funds saw no activity, except for ETHW\u2019s modest $1.3 million inflows, ETHE\u2019s outflows were led by $80.6 million.<\/p>\n

However, Mads Eberhardt, senior analyst at Steno Research, noted<\/a> that US Ethereum spot ETFs also recorded one of their largest net flows on Tuesday, but in the opposite direction. ETH ETFs recovered from the massive Monday outflows, registering $62 million in inflows on the second day of the week.<\/p>\n

Blackock\u2019s ETHA led the positive flows with $59.3 million, while VanEck\u2019s ETHV and Invesco\u2019s QETH saw a mild $1.9 and $1.3 million, respectively. The funds also saw no outflows among all issuers, including Grayscale\u2019s ETHE. This accounts for their third-best-performing day since July. Additionally, it became spot ETH ETFs\u2019 and ETHA\u2019s best day since August 6.<\/p>\n

SEC Delays ETH ETFs Options Decision<\/h2>\n

On Tuesday, the US Securities and Exchange Commission (SEC) revealed<\/a> it had extended the deadline for its decision on the Nasdaq International Securities Exchange (ISE) proposed rule change to list and trade options on Blackrock\u2019s ETHA.<\/p>\n

Similarly, the US regulator delayed its decision on NYSE American LCC\u2019s proposed ruled change to trade and list options on Bitwise\u2019s ETHW and Grayscale\u2019s ETHE and Grayscale\u2019s Mini Trust (ETH).<\/p>\n

The deadlines have been extended to mid-November, with Nasdaq ISE\u2019s ruling scheduled for November 10 and NYSE American LCC\u2019s date set for November 11. The decision follows<\/a> the agency\u2019s recent approval of options trading for BlackRock\u2019s iShares Bitcoin Trust (IBIT) on Nasdaq.<\/p>\n

The approval was called a \u201chuge win\u201d for spot BTC ETFs by Bloomberg analyst Eric Balchunas, who considered that it would attract more investors and bring in more liquidity. A similar development for spot Ethereum ETFs could potentially boost the appeal of the crypto-based investment products for larger investors.<\/p>\n

\"Ethereum,<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

On Tuesday, Ethereum spot exchange-traded funds (ETFs) registered a significant positive performance for the first time in nearly two months. The crypto-based investment products have seen a sluggish performance throughout September and have failed to impress investors amid the market pump. Ethereum ETFs See Best Day Since August Last week, spot Ethereum (ETH) ETFs saw […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-283","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/283","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=283"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/283\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=283"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=283"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=283"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}