Grayscale ETHE ends net outflows! CoinShares: Investors favor ETH trading products over BTC

With the crypto market gradually stabilizing, Grayscale's Ethereum spot ETF ETHE has also successfully ended its net outflows since conversion; meanwhile, asset management firm CoinShares indicates that during the market recovery phase from last week to this week, Ethereum's fund products seem to be more attractive to investors compared to Bitcoin.

Grayscale ETHE Ends Two Weeks of Net Outflows

SosoValue data shows that nine US Ethereum spot ETFs saw a net inflow of $4.93 million on Monday, reversing the trend of net outflows totaling $42.26 million over three consecutive days caused by market panic last week.

Among them, Grayscale's ETHE recorded zero outflows for the first time since its conversion, finally ending two weeks of net outflows, totaling $2.3 billion in outflows with an outflow rate of approximately 45.2%.

Meanwhile, this is also the first time since the launch of VanEck's ETHV that net outflows have occurred, totaling approximately $2.92 million.

CoinShares: ETH Leading Again? BTC ETP Investors Pull Out?

During Market Recovery, Investors Favor ETH Products Over BTC

CoinShares pointed out in its weekly Digital Asset Fund Flows report that during the market recovery period following last week's plunge, investors seem to prefer trading ETH exchange-traded products (ETPs) over BTC.

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The report stated that in the week ending August 11, digital asset investment products saw a total inflow of $176 million, with ETH ETPs accounting for $155 million, approximately 88% of the total inflow, while BTC ETPs only saw an inflow of $13 million this week:

ETH ETPs have benefited from the approval of ETFs, seemingly piquing institutional investors' interest, profiting the most during market downturns and recoveries, resulting in a total inflow of $862 million year-to-date, the highest figure since 2021.

Bitcoin Short ETP Withdrawals

Meanwhile, BTC ETPs saw significant outflows totaling $366 million this month, including the largest outflow of short ETPs since May last year, amounting to $16 million, approximately 23% of Assets under Management (AuM):

Assets under management for short positions have dropped to the lowest level since the beginning of the year, indicating significant investor withdrawals.

Positive Outlook for the Crypto Market

CoinShares also mentioned that unlike usual, last week's plunge saw inflows from all regions globally, indicating a consistent positive outlook on crypto assets following recent price corrections:

Notably, the most significant inflows came from the US, Switzerland, Brazil, and Canada, with inflows ranging from $20 to $89 million.

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