Based on the present rate of outflows, ETHE’s ether reserves may be exhausted in a relatively short timeframe, potentially within weeks.
In a striking development in the cryptocurrency market, the Grayscale Ethereum Trust ETF (ETHE) has reached a historic net outflow of $1.514 billion. This milestone is underscored by a significant net outflow of $356 million in a single day on July 26, contributing to the overall figure.
According to data from SoSoValue, July 26 proved to be a particularly volatile day for Ethereum spot ETFs. On this day alone, the total net outflow of Ethereum spot ETFs amounted to $163 million, reflecting a broader trend of investor withdrawal from these financial instruments.
Grayscale’s newly launched spot Ethereum ETF, a conversion of ETHE, has been marked by significant net outflows, with investors withdrawing a substantial $1.5 billion in the first few days of trading. This substantial withdrawal has underscored the challenges currently facing the ETF.