Famous analyst comments on Ethereum: Good days are coming

According to an analyst, outflows from Grayscale's Ethereum ETF may slow down in the near future and positively affect the market.

According to one analyst, outflows from Grayscale’s Ethereum ETF could slow down in the near future, potentially positively affecting the market.

Steno Research Senior Analyst Mads Eberhardt said that the large outflows from Grayscale’s ETHE will “likely” slow down this week. ETHE has seen more than $1.7 billion in outflows since its conversion, roughly 18% of the $9 billion that was initially in ETHE before it was converted to the ETF on July 24.

This figure has kept Ether ETFs from seeing net inflows over the past four days, even as eight other ETH ETFs have been consistently posting positive inflows.

BlackRock’s spot ETH fund saw the largest inflows with $500 million in cumulative inflows, while Bitwise’s fund saw $276 million and Fidelity came in third with $244 million in net inflows. However, Eberhardt believes the early strong outflows are a reason for a bullish trend in the short term.

“Grayscale Bitcoin ETF outflows have slowed significantly after the eleventh trading session,” he said.

Trader Evanss6 echoed Eberhardt’s sentiment in a July 30 post to X, comparing Bitcoin ETFs to Ethereum ETFs. Evan wrote that outflows from Bitcoin ETFs bottomed on the seventh trading day, with the bottom coming when cumulative outflows from the Grayscale Bitcoin Trust (GBTC) reached 13.2% of the original fund.

“Grayscale Bitcoin ETF outflows have slowed significantly after the eleventh trading session,” he said.

Trader Evanss6 echoed Eberhardt’s sentiment in a July 30 post to X, comparing Bitcoin ETFs to Ethereum ETFs. Evan wrote that outflows from Bitcoin ETFs bottomed on the seventh trading day, with the bottom coming when cumulative outflows from the Grayscale Bitcoin Trust (GBTC) reached 13.2% of the original fund.