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The Grayscale Ethereum ETF (ETHE) has reported cumulative net outflows of $1.15 billion in the three days since its launch on July 23 as newly listed ETH ETFs overall recorded outflows of $152 million on July 25 ,
Data from SoSoValue shows that Grayscale’s ETF posted $346 million in outflows on its third day of trading, still below its record high of $484 million on July 23.
📊 Ethereum ETF Tracker | 2024-07-25
🟥 Daily Total Net Inflow -$152.30M
💰 Total Value Traded $955.85M
🏦 Total Net Assets $8.97B
📊 ETF Market Value Ratio 2.36%🥇 Net Inflows/Outflows for Each ETF
🟩 ETHA +$70.93M
🟩 ETH +$58.09M
🟩 FETH +$34.32M
🟩 ETHW +$16.34M
🟩 ETHV… pic.twitter.com/VXeS5Sqz0Q— SoSoValue Research (@SoSoValue) July 26, 2024
Grayscale Ethereum Trust Investors Cash Out
Grayscale’s 2.5% fee for ETHE ETF, converted into an ETF from the Grayscale Ethereum Trust, has seen investors turn to other issuers with significantly lower fees.
This situation mirrors what happened with the Grayscale spot Bitcoin ETF, which saw over $5 billion in outflows within its first month of trading.
The Grayscale Ethereum Trust had originally launched back in 2017and listed on OTC markets in 2019 before converting to an ETH ETF earlier this week.
BlackRock Leads in Inflows
Wall Street giant BlackRock is once again emerging as a formidable rival in the spot Ether ETF market.
On July 25, the BlackRock iShares Ethereum Trust ETF led the pack with $70.9 million in net inflows. This ETF saw its third consecutive day of inflows, with a cumulative net flow of $354 million.
Despite the ETHE ETF’s dull outlook, the Grayscale Ethereum Mini Trust saw the second-largest inflows on July 25, at $58 million.
Fidelity and Bitwise’s Ethereum ETFs posted inflows of $34 million and $16 million, respectively. VanEck and Invesco Galaxy’s ETH ETFs followed behind with $8 million and $6 million inflows, respectively.
Spot Ethereum ETFs currently have $8.97 billion in assets under management, equivalent to 2.36% of the Ethereum market cap.
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