Ethereum ETF Sees Outflows on Second Day of Trading
The newly launched Ethereum ETFs in the United States saw outflows of $113.3 million on their second day. Grayscale's ETHE fund experienced significant withdrawals, even though other ETFs continued to record net inflows.
In the United States, the newly launched spot-traded Ethereum ETFs experienced a net outflow of $113.3 million on Monday. This was largely driven by substantial withdrawals from Grayscaleâs recently converted Ethereum Trust (ETHE). Although seven out of the eight new ETFs saw net inflows, the significant outflows from Grayscaleâs fund resulted in an overall notable net outflow. So, what does this complex situation imply for investors?
Grayscaleâs ETHE fund, established in 2017, allowed institutional investors to purchase ETH with a six-month lock-up period. However, the fundâs conversion to a spot-traded Ethereum ETF on July 22 enabled investors to sell their assets more freely. This newfound flexibility led to the sale of over 9% of the fundâs assets, culminating in a total outflow of $811 million within two days of the conversion
Fidelityâs Ethereum Fund (FETH) and Bitwiseâs Ethereum ETF (BITW) attracted positive inflows of $74.5 million and $29.6 million, respectively. BlackRockâs iShares Ethereum Trust (ETHA) also showed a positive trend on its first day, although it only garnered $17.4 million on the second day. This mixed performance underscores the marketâs sensitivity and volatility in response to new financial instruments and significant institutional actions.#ETH_ETFs_Trading_Today #bitcoinâïž #solonapumping #BNBAnalysis #ETFvsBTC
