๐๐ฟ๐ฎ๐๐๐ฐ๐ฎ๐น๐ฒ ๐ถ๐ ๐ฑ๐๐บ๐ฝ๐ถ๐ป๐ด ๐๐ง๐ ๐จย
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In the past 3 days, Grayscale has sold 319,710 ETH worth $1.03 billion ๐ฑ
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๐๐ก๐ฒ ๐ข๐ฌ ๐๐ซ๐๐ฒ๐ฌ๐๐๐ฅ๐ ๐๐ฎ๐ฆ๐ฉ๐ข๐ง๐ ๐๐๐?
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โถ๏ธ Investors pulling out their money due to a 10x higher fee than other ETF issuers.ย
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โถ๏ธ Investors are rotating their money into other L1s, like #Solana.ย
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โถ๏ธ One more reason could be staking, as ETH ETFs don't allow it, so investors are pulling their money.
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This is a similar situation to that of GBTC; the only difference is that the grayscale #ETH ETF outflow magnitude is much bigger.
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At this pace, #Grayscale will be left with no ETH in 5 weeks.