US Spot Ethereum ETFs (exchange-traded funds) recorded $39.21 million net outflows yesterday as Nasdaq ISE, LLC files two notices to withdraw proposals to list options on both spot Bitcoin and Ethereum ETFs.
The Grayscale Ethereum Trust (ETHE) was the only fund to register outflows on Aug. 15 after $42.52 million left the ETF, according to data from SosoValue .
Spot Ethereum ETFs Record Minimal Flows
The Grayscale Ethereum Mini Trust (ETH) recorded zero flows yesterday after achieving moderate net inflows of $2.26 million the previous day. Meanwhile, Fidelity’s FETH saw $2.54 million enter its fund. Similarly, BlackRock’s ETHA recorded $770,350 inflows on the same day. All of the remaining ETFs recorded no flows.
Yesterday’s outflows brought an end to a three-day positive streak. The total trading activity across the funds did, however, increase to $240.58 million. This uptick in activity follows the $155.91 volume recorded on Aug. 14 and the $190.76 million on Aug. 13.
Together with the minimal flows into spot Ethereum ETFs yesterday, the leading altcoin’s price barely moved in the past 24 hours. Following a minor pullback, ETH traded at $2,614.07 as of 2:40 a.m. EST. It still remains in the red by more than 2% on the weekly timeframe.
Nasdaq ISE, LLC Withdraws Spot ETH And BTC Listing Proposals
Amid the lackluster Ethereum ETF flows, exchange Nasdaq ISE, LLC filed two notices yesterday to withdraw proposals to list options for spot ETFs linked to Bitcoin and Ethereum, according to filings with the US Securities and Exchange Commission (SEC).
Other exchanges have also withdrawn proposals of a similar nature throughout the past week. MIAX, MIAX Pearl and BOX Exchange all withdrew proposals for listing and trading options on spot Bitcoin ETFs. Cboe recently withdrew its application to list options on spot BTC ETFs as well, but went on to refile it. Many believe this is indicative of the SEC potentially engaging in the process.
