What Is Happening in the ETF Sector?
“However, they overlooked the potential billion-dollar exits from Grayscale and the tendency for news of exchange listings to trigger sell reactions. Additionally, the crypto market is entering a seasonally weak period.”
According to the 10x report, Grayscale’s $9 billion Ethereum Trust experienced significant exits, with $481 million on the first day and $326 million on the second day. In contrast, other ETF issuers like Bitwise recorded $204 million in inflows on the first day, mainly from venture capital firm Pantera Capital.
Key Developments in the Last 24 Hours
On July 23, BlackRock’s iShares Ethereum Trust (ETHA), which announced the strongest inflow in the group, collected only $17.4 million from investors on July 24. The new spot funds were recently pressured by heavy sales from the converted Grayscale Ethereum Trust (ETHE), leading to $326.9 million in exits.
MonoSwap Faces Hack Attack
The platform took extreme measures by publishing the attack link and warned users not to click on it. Additionally, users were advised to withdraw any assets immediately. According to a recent post from MonoSwap, the original post was later deleted as it contained a phishing link.