đ„ Crypto hot news:
- On August 1, Ether (ETH) ETFs in the US recorded positive net inflows of $28.5 million, led by BlackRock's iShare Ethereum Trust (ETHA) with $91.4 million.
- Grayscale's Ethereum Trust (ETHE) had an outflow of $78 million, totaling more than $2 billion since converting to a spot ETF.
- Before the conversion, ETHE held $9 billion ETH. Currently, 22% of the initial fund has been sold.
- Analysts predict outflows from Grayscale will slow down, which could be a positive signal for ETH price.
- Mads Eberhardt from Steno Research believes that outflows will gradually decrease this weekend, creating bullish momentum for ETH.
- Will Cai from Kaiko believes that ETH price will be sensitive to cash flow into spot products.
- Currently, ETH is trading at $3,168, down 8.5% since spot ETFs launched.
đ What do you think about the future of ETH? Comment below! đ
