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

Andere artikelen gepubliceerd op 29 jul 2024

Bitcoin Short Positions Surge

HSBC Australia Implements Restrictions on Payments to Cryptocurrency Exchanges Due to Scam Concerns

New Solana Memecoin Trump Fired Biden Will Surge 17,000%, While SHIB and DOGE Struggle

NeuralAI Price Prediction: NEURAL Surges 15%, But Traders Rush To Buy WienerAI With Less Than 48 ...

Top Crypto Gainers Today Jul 29 – Bitcoin SV, Echelon Prime, Arweave, DeXe

Ethereum Price Rallies After ETF Debut: Is $3500 Target Next?

Meld je aan voor onze gratis nieuwsbrief voor dagelijkse crypto-updates!