Ethereum ETF outflows from Grayscale reach all-time low near $40 million
Around $40 million was withdrawn from the Grayscale Ethereum Trust, now functioning as an exchange-traded fund (ETF) on August 6, as per information from Farside Investors. This represents the smallest daily outflow since its transition from a trust the previous month.
The pace of outflows from the fund, under the ETHE ticker, hit a peak of $484 million on its launch date. Subsequently, ETHE outflows surpassed $1.5 billion after the initial week of trading.
However, the rate of withdrawals has moderated this week. On Monday, ETHE recorded over $61 million in net outflows, followed by approximately $47 million drained on Tuesday. The recent outflows on Wednesday have pushed the total ETHE outflows beyond $147 million this week.
Analyst Mads Eberhardts previously predicted a deceleration in ETHE outflows this week, hinting at a potential price surge once outflows stabilized.
US spot Ethereum ETFs are observing a mixed trend due to reduced inflows into most funds. Among the group, BlackRock’s iShares Ethereum Trust (ETHA) has been the most successful, ending Wednesday with nearly $110 million in net inflows, totaling close to $870 million since its inception.
Overall, the nine funds collectively received a net $98 million in cash on Wednesday. Fidelity’s Ethereum (FETH) fund trailed BlackRock with $22.5 million in inflows. Positive flows were also noted in Grayscale’s Ethereum Mini Trust (ETH) and Franklin Templeton’s Ethereum ETF (EZET).
