Ethereum

Bitcoin

Million

Grayscale Bitcoin Trust

Time

<ul> 
 <li aria-level="1">Grayscale’s holdings fell below $20 billion after major outflows from Bitcoin and Ethereum ETFs last week.</li> 
 <li aria-level="1">Bitcoin Trust recorded $280 million in outflows over a week, reflecting broader withdrawals across crypto ETFs.</li> 
</ul> 
Grayscale’s investment funds, particularly its Bitcoin and Ethereum ETFs, have recently experienced substantial outflows, pushing their total holdings below $20 billion. On September 6, the Grayscale Bitcoin Trust (GBTC) saw $52.9 million withdrawn, contributing to a total of $280 million in outflows for the week.&nbsp; 
<figure id="attachment_91753" aria-describedby="caption-attachment-91753" style="width: 100%" class="wp-caption aligncenter">
 <img decoding="async" class="size-full wp-image-91753" src="https://www.ethnews.com/wp-content/uploads/2024/09/dayli-total-inflow.png" alt="dayli total inflow" width="1788" height="532">
 <figcaption id="caption-attachment-91753" class="wp-caption-text">
 Source: SoSoValue
 </figcaption>
</figure> 
These <a href="https://www.ethnews.com/vitalik-buterin-transfers-massive-eth-sum-whats-he-planning/">withdrawals</a> reflect a broader trend across Bitcoin ETFs, which have recorded $706 million in total outflows over the same period. Grayscale’s total assets now sit under $20 billion, signaling a challenging period for the asset manager. 
The Ethereum Trust (ETHE) also faced a $10.7 million outflow on September 6, adding to the pressure on Grayscale’s asset base. While ETHE had seen some inflows earlier in the year, recent market conditions have driven a shift in sentiment.&nbsp; 
<figure id="attachment_91759" aria-describedby="caption-attachment-91759" style="width: 100%" class="wp-caption aligncenter">
 <img decoding="async" class="size-full wp-image-91759" src="https://www.ethnews.com/wp-content/uploads/2024/09/etf-eth-inflow-sosovalue.png" alt="etf-eth-inflow-sosovalue" width="1794" height="553">
 <figcaption id="caption-attachment-91759" class="wp-caption-text">
 Source: SoSoValue
 </figcaption>
</figure> 
Ethereum, in particular, has encountered price volatility and increasing competition from other blockchain networks. These factors have led to a decline in deposits and a rise in redemptions. 
This contraction in Grayscale’s asset base aligns with a broader slowdown in the cryptocurrency market. Both Bitcoin and Ethereum have experienced price drops following weaker-than-expected U.S. jobs data.&nbsp; 
<figure id="attachment_91763" aria-describedby="caption-attachment-91763" style="width: 100%" class="wp-caption aligncenter">
 <img decoding="async" class="size-full wp-image-91763" src="https://www.ethnews.com/wp-content/uploads/2024/09/greyscale-eth-etf-sosovalue.png" alt="greyscale-eth-etf-sosovalue" width="1809" height="727">
 <figcaption id="caption-attachment-91763" class="wp-caption-text">
 Source: SoSoValue
 </figcaption>
</figure> 
Bitcoin’s price fell sharply, leading to $300 million in liquidations, while Ethereum also suffered a decline, compounded by a $45 million <a href="https://www.ethnews.com/decoding-the-market-struggles-of-ethereum-etfs-why-they-lag-behind-bitcoin/">ETH selloff</a>. As of the latest data by ETHNews, Bitcoin was trading at $54,781, and Ethereum was valued at $2,305. 
<div class="cryptoboxes" id="mcw-12344" data-realtime="on">
 <div class="mcw-chart mcw-chart-light" data-font="inherit" data-chartcoin="BTC" data-chartcurrency="USD" data-chartrate="1.000268" data-charttype="chart" data-chartview="day" data-charttheme="light" data-chartsmooth="true" data-chartareacolor="" data-chartbgcolor=""></div>
</div> 
Despite the <a href="https://www.ethnews.com/ethereum-whale-dumps-thousands-of-eth-market-panic-or-strategic-move/">outflows</a>, some analysts suggest that the market could see a reversal. On-chain data indicate that the recent declines may stabilize, with potential for a price correction in the near future. 
However, Grayscale and other ETF providers continue to face pressure as investors weigh market risks and opportunities, leading to uncertainty in the short term. 
The post <a href="https://www.ethnews.com/ethereums-10-million-outflow-is-it-time-to-panic/">Ethereum’s $10 Million Outflow: Is It Time to Panic?</a> appeared first on <a href="https://www.ethnews.com">ETHNews</a>.

Ethereum’s $10 Million Outflow: Is It Time to Panic?

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