
Ethereum ETFs Hit Record Outflow Streak as Investment Drought Continues
While all nine Ethereum ETFs approved have experienced varying degrees of outflows, the Grayscale Ethereum Trust (ETHE) is by far the fund that has lost the most investment.
While all nine Ethereum ETFs approved have experienced varying degrees of outflows, the Grayscale Ethereum Trust (ETHE) is by far the fund that has lost the most investment.
At the forefront of this positive trend are BlackRock’s ETHA and Fidelity’s FETH which both saw considerable amounts of capital inflow last week.
The US SEC approved the Grayscale Ethereum Mini Trust and ProShares Ethereum ETF on Wednesday with trading expected to commence next week.
Analysts believe that the receiver might be consolidating its assets ahead of a potential approval by the SEC.
The report comes amid rising investor demand for regulated exposure to Ether (ETH), the world’s second-largest cryptocurrency by market capitalization.
The effect of spot ETH ETFs on the price of Ether would be relatively smaller as compared to the approval of spot Bitcoin ETFs on BTC.
VanEck has revealed that from the outset, its spot Ethereum ETF product will not come with a sponsor fee to beat competition.
While all of the prospective Ethereum ETF issuers have fulfilled the bidding of the US SEC by removing staking in their applications, investors might still favor ETH in the ETF market.
Many crypto enthusiasts expected that trading of the spot Ethereum ETF should follow its launch immediately, as it was with Bitcoin ETFs.
USDe aims to rival the likes of Tether’s USDT and Circle’s USDC, the top two stablecoins by market capitalization.
The US SEC must decide on VanEck’s and ARK’s spot Ethereum ETF filings by May 23 and May 24 respectively.
Amid the broader cryptocurrency market rally, Ethereum’s ascent past $3,000 serves as a testament to Etherum’s enduring relevance and potential for innovation.
In addition to ETF anticipation, the crypto community eagerly awaits Ethereum’s Dencun upgrade that is scheduled for March 13.