Ethereum

Franklin

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/investors-pull-out-from-ethereum-etfs" data-wpel-link="internal" rel="noopener noreferrer nofollow">Investors Pull Out from Ethereum ETFs</a><br></p>
<p style="text-align: justify">On August 2, significant activity was observed in US-based spot Ethereum exchange-traded funds (ETFs), with substantial exits from the Grayscale Ethereum Trust (ETHE) amounting to over $2.1 billion. Data from SoSoValue indicated that the total net outflows from spot Ethereum ETFs surpassed $54 million on that day, with ETHE experiencing over $61 million in exits.</p>
<h2 id="grayscale-ethereum-etf">Grayscale Ethereum ETF</h2>
<p style="text-align: justify">Since its inception in 2017, ETHE has enabled <a href="https://finance.coin-turk.com/" rel="noopener noreferrer nofollow" target="_blank" data-wpel-link="exclude">investors</a> to trade Ethereum without needing to purchase or store the cryptocurrency, making it a pioneer in the marketplace. While ETHE saw increased exits, other spot Ethereum ETFs displayed different trends. For instance, the Grayscale Ethereum Mini Trust ETF (ETH) maintained its net inflows at $201 million without any exits.</p>
<p style="text-align: justify">Contrastingly, the Fidelity Ethereum Fund (FETH) reported a positive day with inflows exceeding $6 million, bringing its total net inflows to $297 million. Similarly, the Franklin Ethereum ETF (EZET) saw daily inflows of just over $1 million, increasing its total net inflows to $30.6 million.</p>
<h2 id="overall-situation">Overall Situation</h2>
<p style="text-align: justify">As of August 3, the total net value of spot Ethereum ETFs reached $8.3 billion. Compared to the total market value of Ethereum, the ETF net asset ratio stands at 2.29%. Since transactions began on July 23, cumulative net outflows from spot Ethereum ETFs have surpassed $511 million.</p>
<p style="text-align: justify">In contrast, August 1 saw positive net inflows for spot Ethereum ETFs. That day, ETFs recorded a net positive flow of $26.7 million, primarily driven by an $89.6 million inflow into BlackRock’s iShares Ethereum Trust (ETHA).</p>
<h2 id="actionable-insights">Actionable Insights</h2>
<p style="text-align: justify">– Monitor ETF inflow and outflow <a href="https://newslinker.co/how-does-artificial-intelligence-work/" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="exclude">data</a> to gauge market sentiment.<br> – Evaluate the performance of alternative Ethereum ETFs like Fidelity and Franklin ETFs.<br> – Investigate the reasons behind significant withdrawals from ETHE.<br> – Consider the impact of ETF net asset ratio on overall Ethereum market value.</p>
<p style="text-align: justify">As of the latest update, ETH has experienced a price decline of approximately 5.71% since ETFs were introduced to the market. The price stood at $2,990, reflecting a 5.71% drop from the previous day, with a trading volume of $359 billion.</p>
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/investors-pull-out-from-ethereum-etfs" data-wpel-link="internal" rel="noopener noreferrer nofollow">Investors Pull Out from Ethereum ETFs</a></h5>

Investors Pull Out from Ethereum ETFs

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