Ethereum ETFs Topped Gains Last Week; VOO Led Flows

SPY again led outflows as investors appear to bet on approval and gains in spot ethereum ETFs.

RonDay
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Managing Editor
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Reviewed by: etf.com Staff
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Edited by: James Rubin

Ethereum futures exchange-traded funds topped last week's gainers, as rising anticipation that a spot fund is nearing approval propelled the price of the second-largest cryptocurrency higher.

In terms of flows, last week's leader and loser repeated, with the Vanguard 500 Index Fund (VOO) leading inflows and the SPDR S&P 500 ETF Trust (SPY) tops in outflows for the second straight week. VOO's $2.7 billion in inflows brings its assets under management to $424.4 billion and narrows the gap with SPY, the world's oldest and biggest ETF, whose $3.52 billion in outflows brought its AUM to $505.6 billion.

Ethereum futures funds led all products higher as the No. 2 cryptocurrency soared 15% in the past seven days on hopes that a spot ethereum fund is next to market following the wildly successful launch of spot bitcoin ETFs in January (see tables below). Spot bitcoin ETFs now hold $55.5 billion, according to Bloomberg data, and investors appear to be betting approval and a successful launch of a spot ethereum ETF in the coming months will bring in billions. 

The four-month-old ARK 21Shares Active Ethereum Futures Strategy ETF (ARKZ), with $9.6 million in assets, topped all ETFs with a 9.5% gain. That was followed by the Bitwise Ethereum Strategy ETF (AETH)'s 9.4% gain; a 9.3% jump in the ProShares Ether Strategy ETF (EETH) and an 8% increase in the VanEck Ethereum Strategy ETF (EFUT). EETH is the largest in the group with $76.3 million in assets.

Regarding VOO and SPY, both track the S&P 500. VOO, with $16 billion in inflows so far this year, is often seen as a proxy for momentum toward long-term trading, while SPY may be used more in short-term trades. VOO's management fee of 0.03% undercuts SPY's 0.09% and VOO permits dividend reinvestments.

SPY's outflows may show caution on the part of short-term traders and other market timers, etf.com senior analyst Sumit Roy said last week.

Top 10 Weekly Performers, Excluding Leverage/Inverse Funds and <1,000 Shares Traded

TickerNameWeekly PerformanceWeekly VolumeAUM ($, mm)
ARKZARK 21Shares Active Ethereum Futures Strategy ETF9.45%166,2809.62
AETHBitwise Ethereum Strategy ETF9.40%106,36412.04
EETHProShares Ether Strategy ETF9.25%694,55376.27
EFUTVanEck Ethereum Strategy ETF7.97%246,64132.42
PALLAberdeen Standard Physical Palladium Shares ETF7.40%293,429219.05
URNJSprott Junior Uranium Miners ETF6.94%833,431340.42
ARKYARK 21Shares Active Bitcoin Ethereum Strategy ETF6.49%21,2604.68
URNMSprott Uranium Miners ETF6.45%2,482,1551,644.80
COPJSprott Junior Copper Miners ETF5.98%22,0615.52
URAGlobal X Uranium ETF5.96%12,981,4642,818.19



 

Disclaimer: All data as of 6 a.m. Eastern time the date the article is published. Data is believed to be accurate; however, transient market data is often subject to subsequent revision and correction by the exchanges.

Ron Day is Managing Editor at etf.com. He joined the company in October 2022 and previously served as editor and deputy managing editor.

Ron covered business and financial news at Bloomberg News for 20 years, working on the breaking news, technology, commodities, headlines and First Word teams. He was previously senior editor at ESG news outlet Karma Impact and filled the same role at Boundless Impact. He also covered a variety of beats at New Jersey daily papers including the Daily Record in Parsippany, the North Jersey Herald & News and the Asbury Park Press. Ron's freelance work has been published in AARP.com, Investopedia.com and BigThink.com.

Ron is an advocate and fan of literacy. He hopes to one day master his Telecaster, rather than the other way around. His wonderful family includes a 10-lb. malti-poo named Emmy.