Grayscale’s Ethereum Trust ETF sees $31M outflow
The post Grayscale’s Ethereum Trust ETF sees $31M outflow appeared on BitcoinEthereumNews.com.
Grayscale’s Ethereum Trust ETF (ETHE) recently endured a single-day outflow of $31.01 million, marking a return to negative flow rates after a brief period of stability. The latest outflow trend brings the total to a concerning $2.327 billion for ETHE. Up to this point, U.S. spot Ethereum ETFs have failed to match the performance of their Bitcoin-based equivalents. The consistent outflows from Grayscale’s ETHE have dampened the cumulative net inflows across the nine available ETH exchange-traded funds. Daily performance of ETH ETFs. Source: Farside Grayscale’s Ethereum Trust ETF’s performance over the last few days The sudden change in ETHE’s negative flows comes after a day with no outflows on August 12, achieving a significant milestone since its launch. This temporary relief was short-lived, marking the fifth time a reversal in flows had occurred since ETHE was introduced on July 23. Grayscale’s Ethereum Mini Trust ETF recently saw a day with no outflow, maintaining an overall inflow of $221 million. This consistency stands out amidst the market’s ups and downs. The market fluctuations coincide with increased activity on Ethereum and its layer 2 networks. Despite the challenges faced by ETHE, other Ethereum spot ETFs are performing well. The overall ETF market shows positive signs While Grayscales ETF experienced negative flow, the overall Ethereum spot ETF market showed positive movement on August 14. BlackRock’s ETHA fund is close to reaching the $1 billion mark in inflows, while Fidelity’s FETH has gained a total of $351 million. Following closely is Bitwise’s ETHW fund with $302.5 million in inflows and Grayscales Mini Ethereum Trust (ETH) with $220.5 million. VanEcks ETHV and Franklin Templeton’s EZET have also posted strong performances, reaching $64.8 million and $35.3 million, respectively. The latest data shows that the total net asset value of Ethereum spot ETFs is at over $7.6…
Filed under: News - @ August 14, 2024 12:20 pm