Spot Ether (Ethereum) The exchange-traded fund saw negative net inflows in its first week as massive exodus from the incumbent Grayscale Ethereum Trust (ETHE) overwhelmed interest in competing products.
Similar Bitcoin (Bitcoin) The fund, which debuted in January, saw net inflows of $1 billion in its first four days, but also saw heavy outflows from existing Grayscale funds.
Overall, the Spot ETH ETF suffered net outflows of $340 million, while the Grayscale Trust saw over $1.5 billion outflows. Far Side Investors.
Price movements reflected lackluster ETF activity, with Ether falling 5% last week while Bitcoin rose 2%.
Aside from Grayscale’s ETHE, other newly listed Ethereum ETF products attracted $1.15 billion in inflows last week, led by products from BlackRock, Bitwise and Fidelity.
The current pace of outflows from ETHE will see the fund’s assets dry up over the next four weeks, but analysts expect outflows could start to taper off as early as this week.
Quinn Thompson, founder of digital asset hedge fund Wrecker Capital, said: pointed When Bitcoin bottomed out in late January during a post-ETF selloff, ETHE found that it had already lost as much capital as GBTC. BTC fell 15% in two weeks to below $39,000, but has since risen to an all-time high.
Mads Eberhart, senior crypto analyst at Steno Research, said: I got it. GBTC outflows significantly decreased after the 11th trading session, and we predict that ETHE may follow a similar path.
“Ethereum ETF net outflows have not subsided yet, but will likely subside this week,” Eberhardt said. Said “If that happens, it can only go up from there,” he said in a Monday X post.
