Ethereum

New US spot Ethereum exchange-traded funds (ETFs) have had a rough start. After just one week of trading, buyers pulled about $1.5 billion from Grayscale's fund.   
On Tuesday, more than $450 million worth of trades took place in the $9.1 billion <a href="https://optimisus.com/news/crypto-news/grayscale-ethereum-etf-sees-over-1-billion-in-outflows-since-its-debut/">Grayscale Ethereum Trust (ETHE)</a>. This was more than half of all trading action. However, $590 million went into other ETFs, mostly BlackRock's iShares Ethereum Trust (ETHA), which brought in a total of $107 million.   
<a href="https://optimisus.com/news/crypto-news/blackrocks-ethereum-etf-launch-sees-over-260-million-in-inflows/https://optimisus.com/news/crypto-news/blackrocks-ethereum-etf-launch-sees-over-260-million-in-inflows/">Ethereum ETF</a> flows went sharply in the opposite direction after a good start. They dropped $133 million on July 24, then another $152 million, and then another $162 million on Thursday and Friday. Grayscale's ETHE has lost a total of about $1.5 billion since it was converted.   
BlackRock's ETHA has the most money coming in, with $442 million. Bitwise's ETHW is next, with $265 million, and Fidelity's FETH is third, with $219 million.   
While Grayscale's ETHE has seen a lot of money leave the fund, its Ethereum Mini Trust (ETH), which is a spinoff of the trust, has slowly seen more money come in over the past week. Since its launch, investors have put around $164 million into the fund.   
As the second week of the Ethereum ETF market starts, Grayscale's ETHE is likely to continue losing money. Eric Balchunas, an expert for Bloomberg ETFs, thinks that things will get better over time. However, the next few days could be tough because ETHE is still leaving the market. 
The post <a href="https://optimisus.com/news/crypto-news/grayscales-ethereum-trust-experiences-1-5-billion-in-net-outflows-since-it-was-converted-into-an-etf/">Grayscale’s Ethereum Trust experiences $1.5 billion in net outflows since it was converted into an ETF</a> appeared first on <a href="https://optimisus.com">Optimisus</a>.

Grayscale’s Ethereum Trust experiences $1.5 billion in net outflows since it was converted into an ETF

Optimisus

Άλλα άρθρα που δημοσιεύτηκαν στις 29 Ιουλ 2024

Ripple’s $600M XRP token drop to set the stage for $1.5B August crypto unlocks

Nakamoto Games Takes Decentralized Gaming to Next Level

Ethereum’s New ETFs Attract $2.2 Billion, Influencing Trading Surge

Justin Sun pushes China to adopt crypto-friendly policies following Trump’s Bitcoin Conference sp...

Bitcoin breaks $70k after Trump’s Nashville remarks

Kamala Harris's Advisers Reach Out to Major Crypto Firms

Join our free newsletter for daily crypto updates!