**Ether ETFs See Mixed Results Amid Heavy Outflows from Grayscale**

Ether ETFs had a rocky start on their second day of trading, with a net outflow of $113.3 million. This was mainly due to significant sell-offs from Grayscale’s Ethereum Trust (ETHE), which saw $326.9 million in outflows.

- **Newcomers Shine:** Seven out of eight new Ether ETFs posted net inflows. Fidelity’s Ethereum Fund (FETH) led with $74.5 million, followed by Bitwise Ethereum ETF (BITW) with $29.6 million.

- **Grayscale’s Impact:** ETHE, converted to a spot fund on July 22, experienced $811 million in outflows over two days as investors took advantage of easier selling conditions.

- **Market Reaction:** ETH’s price dropped 6.8% in 24 hours, trading at $3,172, amid a broader market sell-off. The S&P 500 also fell by 2.3%.

Analysts note that ETH’s price could be highly sensitive to ETF inflows, as predicted by Kaiko’s Will Cai.