Tracking the recent update on Ethereum-related products as of April 9 by SoSoValue. An analysis of inflows, market assets, and trading activity of various Ethereum-based funds, ETFs, and other financial instruments is shown.
Ethereum ETFs see $11.19M outflow as FETH gains inflow
According to the update, the daily total net inflow indicates a decrease of $11.19 million, representing a notable outflow compared to the previous period.
This decrease contributes to the total cumulative net inflow of $2.34 billion, suggesting a reduction in daily investments. Despite this, the total value traded amounts to $823.68 million.
NASDAQ’s ETH has recorded a net redemption of $5.45 million. It could be interpreted that investors sold this specific instrument for some reasons as shown below: Another significant part of ETH has been situated on the NYSE with no increment over the net addition hitting a total of $746.16 Million.
On the other hand, net flows were negligible with ETH in CBOE meaning the VanEck fund expreienced no net outflow. The ETF labeled “FETH,” under Fidelity’s management on the CBOE exchange, shows a strong net inflow of $5.73 million.
This trend reflects growing investor interest in the fund. FETH holds $646.18 million in assets, and the price has experienced a slight 7.64% decrease. The market price for FETH stands at $15.11, while its daily volume traded is approximately $4.33 million.
Funds hold strong despite daily price drops
For other Ethereum-related products, such as “ETHW” from Bitwise and “EZET” from Franklin, the market data reflects minor variations.
ETHW, which represents Ethereum Classic, shows a positive performance, but the daily percentage change is still in the negative territory, with a drop of 7.82%. EZET, managed by Franklin, has a more substantial decline of 7.64%, reflecting weaker market conditions for this instrument.
The largest fluctuation in volume was $264.36 million for ETH on the NASDAQ. In comparison, other instruments like QETH from Invesco and CETH from 21Shares have smaller trading volumes.
CETH has a relatively low volume of $6.18 million, suggesting that market participants are trading in smaller quantities compared to other Ethereum products.
ETHW was at 0.07%, marking the smallest portion among the listed funds. Meanwhile, products like ETH on the NYSE and NASDAQ make up 0.95% and 0.37%, respectively, indicating broader exposure to Ethereum.
However, the daily fluctuations are negative with a 7.51% drop in the price of ETHW, yet the Ethereum-based products primarily control significantly large amounts.
This means that the Ethereum-related asset market is quite healthy and capable of withstanding fluctuations in short-term price movements. The total market capitalization still remains strong at $5.56 billion, making it 2.75% of Ethereum’s total.
