Odaily Planet Daily News Kaiko analysts wrote in a report on May 27 that on January 11, Grayscale GBTC changed from a closed-end fund to an ETF. At the beginning of its issuance, 23% of its assets under management flowed out in the first month, totaling $6.5 billion. Grayscale ETHE has an asset management scale of $11 billion. According to Kaiko, if its "outflow scale is similar to GBTC," "it will be equivalent to an average daily outflow of $110 million, or 30% of the average daily trading volume of ETH on Coinbase." In the past three months, ETHE's negative premium to its net assets (NAV) has been as high as 26%, and it has narrowed significantly recently. Kaiko researchers pointed out that once it becomes a spot ETF, as the discount narrows, "it is reasonable to expect" that there will be outflows or redemptions. (Cointelegraph)

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