Grayscale Ethereum Trust ETF net outflows hit $1.5B

Based on the present rate of outflows, ETHE’s Ether reserves could be exhausted within weeks.

Outflows from the Grayscale Ethereum Trust ETF (ETHE) have reached over $1.5 billion, with net outflows of $356 million in a single day on July 26.

According to data from SoSo Value, July 26 proved to be a particularly volatile day for spot Ether (ETH) exchange-traded funds (ETFs), with total net outflows amounting to $163 million.

Grayscale’s newly converted Ethereum Trust ETF has witnessed significant net outflows, with investors withdrawing over $1.5 billion since spot Ether ETFs launched in the United States on July 23.

Grayscale’s mixed fortunes

On the other hand, Grayscale’s Ethereum Mini Trust ETF (ETH) saw a contrasting trend. On July 26, the ETF recorded a net inflow of $ 44.9 million.

This brings the total net inflows to the Grayscale Ethereum Mini Trust ETF to $164 million since it launched.

However, it is BlackRock’s iShares Ethereum Trust ETF (ETHA) that has attracted the most investor interest. ETHA had a net inflow of $87.2 million on JUly 26, pushing total net inflows to $442 million.

Related: Spot Ethereum ETFs are coming, but ETH derivatives markets are flat

Market context

The total net asset value of spot Ether ETFs currently stands at $9.2 billion. The ETF net asset ratio, which represents ETFs’ market value relative to Ethereum’s total market value, is at 2.36%. Despite these figures, the historical cumulative net outflow for spot Ether ETFs has reached $341 million.

On July 23, eight investment firms introduced nine new Ethereum exchange-traded funds that track the cryptocurrency’s spot price following their initial greenlight from the US Securities and Exchange Commission in May.