He can do better. After weeks of stalling with the company’s regulators DRY (Securities and Exchange Commission) ended definitively approve the Ethereum spot ETF on July 22, 2024, and their issuers rushed to list them on the stock exchange the very next day (July 23). Since, balance sheet of these new financial products is very mixedbecause the fund was heavily burdened ETHE from Grayscale.
On the good news side: significant trading volumes and 8 out of 9 Ethereum ETFs in the green
Let’s start with positive for Ethereum ETFs cash, which celebrates 2 months of trading on the stock exchange on September 23. We begin by pointing out that despite shadow what does it do to them the stunning success of bitcoin ETFs (approved on January 10, 2024), the performance of these ether funds should be nothing to be ashamed of.
Within the broader market of exchange-traded funds trading volumes observed on the ETH ETF place they end up being high. According to The Block’s analysis, these 9 new Ethereum funds were the subject of a total 13 billion dollars exchange in 2 months assessment. Proof that they aroused interest.
If only Bitcoin ETFs could generate such a large number of trades 7 daysEthereum ETF volumes remain a great success compared to the average of more traditional exchange-traded fund launches. Some comparisons are flattering, others less so. But above all, 8 out of 9 funds recorded positive capital flow really good point from their listing.
Bad news: Grayscale’s ETHE pool is single-handedly destroying other ETH pools
Before moving on to the less encouraging news, let us note that the fund iShares Ethereum Trust (ETHA) giant BlackRock slowly he continued his magnificent boomnow transcending +$1 billion in net inflows from July 23.
However, the performance of BlackRock’s ETHA (and the other 7 ETFs with positive flow) was not enough to compensate for the one weak duck of these funds:Ethereum Grayscale Trust (ETHE) from Grayscale investment.
Indeed, as far as the GBTC fund for Bitcoin ETFsEthereum fund converted to ETF from Grayscale literally leaded the result of 8 more new financial products on the ether. It’s almost in 2 months -$2.85 billion in net outflows which were recorded on Grayscale’s ETHE.
Finally, because of ETHE, whole of 9 Ethereum spot ETF sees almost -$687 million clean drains. However, if we do not count the “grey sphere”, the other 8 ETH pools are a record +$2.16 billion capital inflow in 2 months! Not too bad, although again the king of cryptocurrencies eclipse a bit of a very honest performance by the prince of altcoins, from $7.5 billion in net inflows into BTC ETFs in 2 months.