As the Ethereum spot ETF opened for trading on its second day, the market experienced a capital outflow of $133 million, which was mainly blamed on the massive loss of funds from the Grayscale Ethereum Trust Fund (ETHE). At the same time, BTC once fell below 64k at noon Taiwan time, and ETH dropped more than 5% in 24 hours.
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ToggleEthereum spot ETF saw a net outflow of $133 million the next 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 $133.3 million, reversing Tuesday's original net inflow of $106.6 million, leaving the current fund still in an outflow state (-$26.7 million).
Fidelity (FETH), 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, with net fund inflows of US$74.5 million, US$45.9 million, and US$29.6 million respectively. .
On the other hand, BlackRock's 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 largest issuer under management, reaching approximately US$284 million. .
Grayscale (ETHE) outflows US$810 million in two days
Regarding 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 US$326 million, becoming the only fund among all funds to have a net outflow. , and a fairly large-scale fund.
Apparently, investors witnessed a total outflow of $811 million from ETHE in two days, with more than 9% of fund holdings sold.
A similar situation occurred in the first few weeks after the launch of the Bitcoin Spot ETF, when six out of ten trading days saw net outflows due to the Grayscale Bitcoin ETF (GBTC) exceeding $2 billion. The tide of dumping.
( Bitcoin Spot ETF｜GBTC outflows 10,000 Bitcoins every day, 500,000 Bitcoins still waiting to be sold? )
Grayscale ETHE capital outflows caused concern, ETH fell 8% during the day
Perhaps due to market concerns caused by the massive outflow of funds from Grayscale ETHE, Ethereum (ETH) fell from the level of $3,300 to around $3,100 at noon today, and the decline expanded to 8% within 24 hours.
At the same time, Bitcoin (BTC) fell slightly by 2.9% during the day, standing at around 64k.
The gloom also enveloped the U.S. stock market, and there was substantial selling pressure. The S&P 500 index fell more than 2%, and the Nasdaq index also suffered a heavy loss of 3.64%.
