According to data provided by SoSoValue, Ethereum ETFs have recorded outflows of $53 million.
BlackRock's iShares Ethereum Trust ETF (ETHA) saw the largest chunk of outflows, with more than $40 million. Grayscale Ethereum Mini Trust (ETH) and Fidelity Ethereum Fund (FETH) are also in the red, with $9.33 million and $3.32 million worth of outflows, respectively.
Arman ShirinyanThese products have now recorded 10 consecutive days of negative flows. March 4 was the last day when these products were in the green.
Multiple Ethereum ETF issuers are seeking the SEC's approval to add staking to their products. Last week, the Cboe BZX Exchange asked the regulator to enable staking for the the 21Shares Core Ethereum ETF (CETH). Some believe that this could be game-changing for these struggling products.
Bitcoin ETFs turn tide
After disastrous outflows, Bitcoin ETFs recorded a total net inflow of $209 million on Tuesday. This is the third consecutive day of inflows for these products. On Monday, they brought in $274 million worth of inflows. They were also in the green on March 14.
Godfrey BenjaminHowever, it is worth noting that BlackRock's iShares Bitcoin Trust ETF (IBIT) has accounted for all of the most recent inflows, with $218 million.
Meanwhile, the ARK 21Shares Bitcoin ETF has recorded $9 million worth of outflows.
The recent inflows recorded by Ethereum ETFs are still far from offsetting the outflows that were recorded over the period from Match 6 to March 11. On March 7, for instance, they hemorrhaged $409 million in a single day.
Vladislav Sopov
Dan Burgin