𝗚𝗿𝗮𝘆𝘀𝗰𝗮𝗹𝗲 𝗶𝘀 𝗱𝘂𝗺𝗽𝗶𝗻𝗴 𝗘𝗧𝗛 🚨 

In the past 3 days, Grayscale has sold 319,710 ETH worth $1.03 billion 😱

𝐖𝐡𝐲 𝐢𝐬 𝐆𝐫𝐚𝐲𝐬𝐜𝐚𝐥𝐞 𝐃𝐮𝐦𝐩𝐢𝐧𝐠 𝐄𝐓𝐇?

▶️ Investors pulling out their money due to a 10x higher fee than other ETF issuers. 

▶️ Investors are rotating their money into other L1s, like #Solana. 

▶️ One more reason could be staking, as ETH ETFs don't allow it, so investors are pulling their money.

This is a similar situation to that of GBTC; the only difference is that the grayscale #ETH ETF outflow magnitude is much bigger.

At this pace, #Grayscale will be left with no ETH in 5 weeks.