Ethereum ETF Sees Outflows on Second Day of Trading

The newly launched Ethereum ETFs in the United States saw outflows of $113.3 million on their second day. Grayscale's ETHE fund experienced significant withdrawals, even though other ETFs continued to record net inflows.In the United States, the newly launched spot-traded Ethereum ETFs experienced a net outflow of $113.3 million on Monday. This was largely driven by substantial withdrawals from Grayscale’s recently converted Ethereum Trust (ETHE). Although seven out of the eight new ETFs saw net inflows, the significant outflows from Grayscale’s fund resulted in an overall notable net outflow. So, what does this complex situation imply for investors?
Grayscale’s ETHE fund, established in 2017, allowed institutional investors to purchase ETH with a six-month lock-up period. However, the fund’s conversion to a spot-traded Ethereum ETF on July 22 enabled investors to sell their assets more freely. This newfound flexibility led to the sale of over 9%…