Ethereum spot ETF saw a net outflow of $133 million the next day! Grayscale is the culprit

This site (120btC.coM): As the Ethereum spot ETF opened for the second day, the market saw a capital outflow of US$133 million. The main reason was Grayscale Ethereum. There was a massive loss of funds from the Trust Fund (ETHE). At the same time, BTC once fell below 64k at noon Beijing time, and ETH fell by more than 5% in 24 hours.

The Ethereum spot ETF saw a net outflow of US$133 million on the second day

Farside Investors data pointed out that eight of the nine Ethereum spot ETFs currently on the market achieved net capital inflows on the second day.

However, even so, the overall market still had a net outflow of US$133.3 million, reversing Tuesday’s original net inflow of US$106.6 million, leaving the current fund still in an outflow state (-US$26.7 million).

Fidelity (FETH) and Bitwise (ETHW) are slightly better

Today, Fidelity’s Ethereum Spot ETF (FETH), Grayscale’s Mini Ethereum ETF (ETH) and Bitwise’s ETHW took the lead, respectively. There were net inflows of $74.5 million, $45.9 million, and $29.6 million.

On the other hand, BlackRock Ethereum Spot ETF (ETHA), which took the lead on the first day of trading, only had a net inflow of US$17.4 million, but it is still the issuer with the largest management scale, reaching approximately 2.84 One hundred million U.S. dollars.

Grayscale (ETHE) outflowed US$810 million in two days

For the overall net outflow of the Ethereum spot ETF market, it is difficult not to blame it on Grayscale’s other Ethereum spot ETF (ETHE). The net outflow exceeded 326 million US dollars, becoming the only fund among all funds to have a net outflow and a quite large scale.

Obviously, investors have witnessed a total of $811 million in fund outflows from ETHE in two days, and more than 9% of fund holdings have been sold.

A similar situation also occurred in the first few weeks after the launch of the Bitcoin spot ETF. At that time, there were net fund outflows on six out of ten trading days. The reason was that the Grayscale Bitcoin ETF (GBTC) exceeded 20 Billion dollar dumping wave.

Grayscale ETHE capital outflow caused concern, ETH fell 8% during the day

Perhaps due to market concerns caused by Grayscale ETHE's large capital outflow, Ethereum (ETH) once fell from the level of 3,300 US dollars to around 3,100 at noon today, 24 The decline widened to 8% within hours.

At the same time, Bitcoin (BTC) fell slightly by 2.9% during the day, standing at around 64k.

Gloom also enveloped the U.S. stock market, and there was substantial selling pressure. The S&P 500 index fell by more than 2%, and the Nasdaq index also suffered a heavy loss of 3.64%.

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