Grayscale Ethereum Trust Experiences $2.1 Billion of Outflows After Launch of ETH ETFs

On August 2, United States-based spot Ether exchange-traded funds (ETFs) experienced notable movements, with Grayscale Ethereum Trust (ETHE) seeing significant outflows amounting to $2.1 billion. Data from SoSoValue indicates that total net outflows from spot Ether ETFs exceeded $54 million on that day. ETHE was a major contributor to this, with a single-day net outflow of over $61 million. Since 2017, Grayscale’s Ethereum Trust ETF has provided investors with exposure to Ethereum without the need to directly purchase and store the cryptocurrency. However, it faced substantial outflows recently. “Ethereum ETFs posted a $54.27 million net outflow on Aug. 2,” according