$ETH
Grayscale Ethereum Trust ETF hits historic net outflow of $1.5 Billion
Based on the present rate of outflows, ETHE's ether reserves may be exhausted in a relatively short timeframe, potentially within weeks.
In a striking development in the cryptocurrency market, the Grayscale Ethereum Trust ETF (ETHE) has reached a historic net outflow of $1.514 Billion.
This milestone is underscored by a significant net outflow of $356 Million in a Single day on July 26 , contributing to the overall figure.
According to data from SoSoValue, July 26 proved to be a particularly volatile day for Ethereum spot ETFs. On this day alone, the total net outflow of Ethereum spot ETFs amounted to $163 million, reflecting a broader trend of investor withdrawal from these financial instruments.
Grayscale's newly launched spot Ethereum ETF, a conversion of ETHE, has been marked by significant net outflows, with investors withdrawing a substantial $1.5 billion in the first few days of trading. This substantial withdrawal has underscored the challenges currently facing the ETF.
Grayscale’s mixed fortunes
While the Grayscale Ethereum Trust ETF ETHE experienced massive outflows, the Grayscale Ethereum Mini Trust ETF (ETH) saw a contrasting trend. On July 26, the Mini Trust ETF recorded a net inflow of $44.9426 million.
This brings the current total net inflow for the Grayscale Ethereum Mini Trust ETF to $164 million, indicating investor confidence in this smaller-scale trust.
However, the largest net inflow for an Ethereum spot ETF on July 26 was observed in the BlackRock ETF ETHA, which saw a single-day net inflow of $87.2178 million. This surge has pushed the total net inflow for ETHA to an impressive $442 million.
