The Grayscale Ethereum Trust ETF (ETHE) has seen significant outflows, with over $1.5 billion withdrawn by investors. Notably, on July 26 alone, there was a net outflow of $356 million.
Data from SoSo Value highlighted that July 26 was a particularly volatile day for spot Ether ETFs, with a total net outflow of $163 million. This marks a period of instability for these funds, especially for Grayscale’s newly converted Ethereum Trust ETF, which has faced substantial withdrawals since spot Ether ETFs were launched in the U.S. on July 23.
Contrasting Trends in Grayscale Ethereum Mini Trust ETF
In contrast, the Grayscale Ethereum Mini Trust ETF (ETH) saw positive activity. On July 26, it recorded a net inflow of $44.9 million, bringing the total net inflows to $164 million since its launch. This indicates some investor confidence in this smaller-scale trust.
BlackRock’s iShares Ethereum Trust ETF (ETHA) has attracted the most attention from investors. On July 26, ETHA experienced a net inflow of $87.2 million, pushing its total net inflows to $442 million.
Overview of Spot Ether ETFs
The total net asset value of spot Ether ETFs stands at $9.2 billion, with an ETF net asset ratio of 2.36%. Despite these inflows, the historical cumulative net outflow for spot Ether ETFs has reached $341 million.
On July 23, eight investment firms launched nine new Ethereum exchange-traded funds, tracking the cryptocurrency’s spot price. These funds received approval from the US Securities and Exchange Commission in May, indicating growing interest in Ethereum investments.
