Investors Withdraw $2 Billion from Grayscale’s Ethereum ETF

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Cryptodnes2024/08/01 12:45

By:Cryptodnes

Investors have pulled nearly $2 billion from Grayscale's Ethereum ETF (ETHE) since it transitioned from a trust, with the fund's value now at $6.7 billion due to declining Ethereum prices.

On Wednesday alone, ETHE saw $133 million in withdrawals, though this wasn’t its largest single-day outflow, which was $484 million on its debut.

In contrast, the Grayscale Ethereum Mini Trust (ETH) has seen a positive inflow trend, with $19.5 million added on Wednesday, bringing total inflows to over $200 million.

ETH offers a lower management fee of 0.15%, compared to ETHE’s 2.5%, positioning it as the most cost-effective Ethereum ETF.

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Grayscale’s new Bitcoin Mini Trust (BTC), launched yesterday and has already attracted $18 million.

This fund, which also has a 0.15% fee, aims to offer a cheaper alternative to the existing Bitcoin Trust (GBTC) and alleviate some of the selling pressure on GBTC by reallocating some of its assets.

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