On Sept. 10, spot Ethereum ETFs saw aggregate inflows of $11.4 million, according to preliminary data from Farside Investors.<\/p>\n
While this figure<\/a> is pretty small, the overall inflow reverses an eight-day trend of outflows. The last time flows were positive for the institutional investment products was on Aug. 28.<\/p>\n Only BlackRock (ETHA) and Fidelity (FETH) funds saw inflows of $4.3 million and $7.1 million respectively.\u00a0The rest, including Grayscale\u2019s ETHE fund, had zero flows for the day.<\/p>\n Despite overall positive flows for eight of the nine new ETH ETFs<\/a>, the overall outflow is $562 million. This is all due to the exodus from Grayscale\u2019s ETHE fund, which has hemorrhaged almost $2.7 billion worth of ETH since its conversion to a spot ETF on July 23.<\/p>\n Nevertheless, those outflows appear to have slowed down significantly recently which may turn the tide for the whole group.\u00a0Additionally, Ethereum sentiment has been at rock bottom<\/a> recently with the asset slumping 34% since the ETFs were launched.<\/p>\n This has not deterred those who believe in its underlying principles as a decentralized financial layer of the internet.<\/p>\n \u201cEthereum is in the best spot it\u2019s ever been, yet sentiment is the worst it\u2019s ever been,\u201d\u00a0said<\/a> Ethereum developer Eric Connor in a post on X on Sept. 10. In a separate post, he said that it was a \u201clong game.\u201d<\/p>\n Play short term games, win short term prices<\/p>\n Not many are cut out for the long game but Ethereum wins in the long run because that is what we are building for<\/p>\n A global financial settlement layer, something that has never existed before<\/p>\n ETH as its primary money<\/p>\n \u2014 eric.eth (@econoar) September 10, 2024<\/a><\/p>\n\n In a post on X on Sept. 11, Head of Amdax Asset Management, Marcel Burger, also acknowledged<\/a> that sentiment was in a bad place.<\/p>\n \u201cEthereum FUD is reaching max height. Always annoying to see bad narratives evolving when price falls. Especially for fundamentally strong projects.\u201d<\/p>\n The Daily Gwei founder Anthony Sassano said,<\/a> \u201cEthereum is not having an \u2018identity crisis\u2019 \u2013 it knows exactly what it wants to be and has known that for many years now.\u201d<\/p>\n \u201cEthereum is doing just fine as an ecosystem and keeps growing at a very nice pace.\u201d<\/p>\n Even Ethereum co-founder Vitalik Buterin was \u2018bullposting\u2019 \u2026<\/p>\n ETH bullposting is good pic.twitter.com\/0GQKw9B11F<\/a><\/p>\n \u2014 vitalik.eth (@VitalikButerin) September 11, 2024<\/a><\/p>\n\n However, the resurgence in bullposting has not been enough to drag ETH prices<\/a> out of their quagmire.\u00a0ETH has retreated over the past few hours after touching $2,400 in late trading on Sept. 10.<\/p>\n The asset fell back to $2,330 during the Wednesday morning Asian trading session and remains down 7.5% since the beginning of the month, hovering around lows not seen since early February.<\/p>\n The post Ethereans Defy The FUD as ETH ETF Flows Flip Positive<\/a> appeared first on CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":" On Sept. 10, spot Ethereum ETFs saw aggregate inflows of $11.4 million, according to preliminary data from Farside Investors. While this figure is pretty small, the overall inflow reverses an eight-day trend of outflows. The last time flows were positive for the institutional investment products was on Aug. 28. Only BlackRock (ETHA) and Fidelity (FETH) […]<\/p>\n","protected":false},"author":0,"featured_media":5429,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-5428","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/5428"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=5428"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/5428\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/5429"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=5428"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=5428"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=5428"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}Ethereum \u2018Bullposting\u2019 Is Back<\/h2>\n
ETH Price Outlook<\/h2>\n