Grayscale’s Ethereum ETF (ETHE) has experienced substantial outflows, surpassing $2 billion within eight trading sessions since its launch. This dramatic decline has seen ETHE’s assets under management decrease by 22%, now standing just above $7 billion. Despite this, there’s a silver lining as outflows have started to subside, with net outflows dropping below $100 million for the first time.
This volatility has been mirrored by increased Ethereum whale activity, notably large ETH deposits to Binance, contributing to price fluctuations. Analysts suggest more market pain might be ahead, yet recent inflows in BlackRock and Fidelity’s Ethereum ETFs offer a glimmer of hope for stability.
Disclaimer: Please note that the information provided in this article is based on the referenced research articles. It is essential to conduct further research and analysis before making any investment decisions. The cryptocurrency market is highly volatile, and investors should exercise caution and consult with financial professionals before engaging in cryptocurrency trading or investment activities.