Grayscale Ethereum ETF sees over $1 billion in outflows since its debut

Grayscale’s Ethereum ETF (ETHE) lost over $1 billion in three trading days after its conversion, lowering assets under management from $9 billion to $7.4 billion.

Inflows were led by BlackRock’s iShares Ethereum Trust (ETHA), which attracted $71 million and followed by Grayscale’s Ethereum Mini Trust (ETH), a spinoff of Ethereum Trust.

Fidelity’s Ethereum Fund (FETH), Bitwise’s Ethereum ETF (ETHW), VanEck’s Ethereum ETF (ETHV), and Invesco/Galaxy’s QETH all saw inflows. A $152 million net outflow for the nine funds was the highest since their July 23 trading debut.

ETHE’s 2.5% charge makes Ethereum exposure expensive, so investors sell ETHE shares and switch to lower-fee newcomers. Grayscale’s Ethereum Mini Trust, one of the lowest-cost spot Ethereum funds in the US, has a 0.15% charge and may help avoid déjà vu.

Currently, Ethereum is trading at $3,262.08 with a 24-hour trading volume of $21,116,074,568. This means Ethereum is up 2.75% in the last 24 hours after falling to around $3,100.