CoinShares在交易活动下降的情况下推出“出人意料地成功”

The rollout of spot ether (ETH-USD) exchange-traded funds earlier this week has been "surprisingly successful" in the wake of seasonally lower trading activity, CoinShares Research said on Thursday.

While the prices of the freshly issued ETFs have been dragged down by lower ETH (ETH-USD) prices, inflows into the products have been quite strong.

Since July 23, 2024, when the ETFs launched, the funds have seen inflows of $801M, excluding seed capital that moved from Grayscale's original (NYSEARCA:ETHE) product to its new mini trust ETF (NYSEARCA:ETH), CoinShares wrote in an emailed statement to Seeking Alpha.

Outflows from the original Grayscale closed-end fund (ETHE), however, have been significant, amounting to $820M since the other ETFs went live. The outflows, where the discount to net asset value has locked clients in for years, resulted in total net outflows of $19M.

But "we do not believe this should be viewed negatively," CoinShares said. "This situation is very similar to the Bitcoin ETF product launches at the beginning of the year. It likely represents a mix of clients taking profits for the first time in many years and switching to cheaper products."

CoinShares sees inflows from the new ETFs gradually surpassing outflows from (ETHE).

On their third day of trading, the spot ETH ETFs experienced further downward pressure as ether (ETH-USD) nosedived as a wider stock-market rout led to weakening investor sentiment for risk assets.

Spot ETH ETFs: Bitwise Ethereum ETF (NYSEARCA:ETHW) -6.8%, iShares Ethereum Trust (NASDAQ:ETHA) -6.7%, Fidelity Ethereum Fund (BATS:FETH) -6.8%, Franklin Ethereum ETF (BATS:EZET) -6.9%, Grayscale Ethereum Mini Trust (ETH) -6.6%, Grayscale Ethereum Trust (ETHE) -3.1%, Invesco Galaxy Ethereum ETF (BATS:QETH) -6.8%, VanEck Ethereum ETF (BATS:ETHV) -6.7%, 21Shares Core Ethereum ETF (BATS:CETH) -6.5%.