Outflows from Grayscale Ethereum Trust ETF (ETHE) surpass $1.5 billion

Outflows from the Grayscale Ethereum Trust ETF (ETHE) have hit a staggering $1.5 billion, with a massive $356 million being withdrawn in just one day on July 26. This data, provided by SoSo Value, highlights the volatility surrounding spot Ether (ETH) exchange-traded funds (ETFs).

Since the launch of spot Ether ETFs in the United States on July 23, investors have been quick to pull out their funds from Grayscale’s Ethereum Trust ETF. The total net outflows have now surpassed $1.5 billion, painting a bleak picture for this particular investment vehicle.

However, not all is doom and gloom for Grayscale, as their Ethereum Mini Trust ETF (ETH) has seen a contrasting trend. On July 26, the ETF recorded a net inflow of $44.9 million, bringing the total net inflows to $164 million since its launch.

Interestingly, BlackRock’s iShares Ethereum Trust ETF (ETHA) has been the standout performer, attracting the most investor interest. On July 26 alone, ETHA saw a net inflow of $87.2 million, pushing total net inflows to $442 million.

The market context surrounding spot Ether ETFs is also worth noting. The total net asset value currently stands at $9.2 billion, with an ETF net asset ratio of 2.36%. Despite these figures, historical cumulative net outflows for spot Ether ETFs have reached $341 million.

The introduction of nine new Ethereum exchange-traded funds by eight investment firms on July 23, following approval from the US Securities and Exchange Commission in May, has certainly stirred up the market. It remains to be seen how these new developments will impact the overall landscape of Ether ETFs moving forward.