💥💥Grayscale's selling pressure on Ethereum will continue, but there is hope that it will return to 3,400 on Sunday after Friday!
According to SoSoValue data, yesterday (July 25, Eastern Time) the total net outflow of Ethereum spot ETF was 152 million US dollars. Yesterday, Grayscale's Ethereum Trust ETF ETHE had a net outflow of 346 million US dollars per day. Grayscale has continued to outflow at an average rate of 300 million US dollars per day. Obviously, BlackRock and Fidelity can't take so much, and ETH's weakness will continue for a while;
💥💥When will Grayscale's selling pressure end?
Trader T data shows that Grayscale ETHE currently still holds 2.28 million ETH, and has outflowed 13% in the past three days. Compared with the outflow rate of about 4% (25,000 BTC/630,000 BTC) after GBTC was opened for three days in January this year, ETHE's outflow rate is more than three times higher than GBTC.
💥💥If the final outflow ratio of ETHE is assumed to be 50%, it will not be all outflowed after all; it will take another 8 trading days to calculate at the current outflow rate. It will take until early August to completely end;
💥💥Therefore, ETH's recent weakness will continue for a while. After all, BTC has returned to its previous high, but ETH is still below the long-short conversion point of 3350; more opportunities in the near future are still in BTC, BTC ecology and sol ecology;
