[Viewpoint: ETHE's higher net outflow than GBTC may be related to their respective launch times] Golden Finance reported that Farside Investors published an article on the X platform stating that ETHE's net outflow is higher than GBTC. One factor may be that GBTC was launched earlier than ETHE (2013 vs. 2017). Therefore, a higher proportion of GBTC holders may hold huge unrealized capital gains and are therefore less willing to sell. Another factor is that ETHE holders may want to stake their tokens. In addition, ETHE's fees are 2.5%, while GBTC has at least reduced to 1.5%.