Ethereum spot ETFs had a rough start to the week, but things took a turn for the better on Tuesday.
A Week of Outflows
Last week, Ethereum ETFs saw their sixth straight week of investors pulling out money. This continued a trend that started in September, with investors not being impressed with the performance of these funds.
Things were even worse on Monday, with Ethereum ETFs seeing one of their worst days since they launched in July. Investors pulled out a whopping $79.3 million, making it the fifth-largest outflow day for these funds.
Tuesday’s Turnaround
But Tuesday brought a change in fortune. Ethereum ETFs saw a massive influx of $62 million, making it their third-best day since July. This was also the best day for these ETFs since August 6th.
BlackRock’s ETHA led the charge, attracting $59.3 million in new investments. Other ETFs like VanEck’s ETHV and Invesco’s QETH also saw modest inflows.
SEC Delays Options Decisions
The SEC, the agency that regulates financial markets in the US, has delayed its decision on whether to allow options trading for Ethereum ETFs. This means investors won’t be able to buy and sell contracts that give them the right to buy or sell shares of these ETFs at a specific price in the future.
The SEC has pushed back its decision on options for BlackRock’s ETHA, Bitwise’s ETHW, and Grayscale’s ETHE to mid-November.
This delay is a bit of a disappointment, as many believe that allowing options trading would make Ethereum ETFs more appealing to investors. The SEC recently approved options trading for Bitcoin ETFs, which was seen as a positive development for those funds.
