Bloomberg ETF analyst Eric Balchunas said that the Ethereum spot ETF is in a retrograde situation because the new ETFs cannot offset the outflow of funds from Grayscale ETHE, but the good news is that the unlocking is about to end, and there is light at the end of the tunnel!
Ether ETFs Went Backward in First Month.. flows -$476m as the newbies couldn't overcome the $ETHE unlock, too powerful a force (this is why I reiterated how heroic the New Nine bitcoin ones were) but good news is unlock will end, there's light at end of tunnel via @JSeyff pic.twitter.com/Y8QphnFAXq
— Eric Balchunas (@EricBalchunas) September 3, 2024
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ToggleETHE had zero outflows on 8/30
According to statistics from Farside , the total net outflow of Ethereum spot ETFs since its listing has been US$524.8 million, of which Grayscale’s ETHE has seen a net outflow of US$2.61 billion. The total asset value also fell from 10.24 billion US dollars on 7/23 to 6.97 billion US dollars on 8/30 (asset prices are denominated in US dollars, which also reflects the decline of Ethereum from 3,482 US dollars to 2,526 US dollars on 8/30).
Grayscale's ETHE had an asset value of US$8.6 billion when it was listed on July 23, but it had dropped to US$4.53 billion by August 30. According to data provided by SoSoValue, its net outflows slowly dropped from US$480 million on July 23. It has declined, and there has been zero outflow on 8/30!
Is there light at the end of the tunnel?
Recently, an alliance of cryptocurrency companies including Coinbase and Blockdaemon launched a new node operator standard called NORS , hoping to attract more institutional investors to participate in Ethereum staking.
As compliance and cryptocurrency gradually enter the eyes of ordinary investors, is it as Eric Balchunas expected, the unlocking is about to end, and there is light at the end of the tunnel!
Or as crypto analyst Ignas said, although the current flow of Ethereum spot ETF is very low, when the market turns bullish, there may be a large inflow of funds. Although institutions have not entered the market yet, if they want to enter this market, they will find a way!
