Grayscale Ethereum Trust (ETHE) Suffers Largest Single-Day Outflow of $80M Since July 29

Over $79 million was withdrawn from nine US spot Ethereum ETFs on Monday, the largest single-day outflow since July 29, according to data tracked by Farside Investors.

Key Takeaways

* A total of nine US spot Ethereum ETFs saw outflows on Monday, with over $79 million being withdrawn.

* Grayscale’s Ethereum Trust (ETHE) led redemptions with over $80 million in outflows.

* Monday’s outflows marked the largest single-day outflows for these ETFs since July 29.

* Despite the outflows, ETHE remains the largest Ether fund globally with about $4.6 billion in assets under management.

* Outflows from ETHE since its ETF conversion now stand at over $2.8 billion.

* The outflows ended a brief two-day gain for the ETFs, with only the Bitwise Ethereum ETF (ETHW) seeing inflows on Monday.

* Most of the competing funds saw zero flows, while Bitwise’s ETF saw investors buy over $1 million in shares.

* ETHW’s net buying stood at over $320 million as of September 23, with its Ether holdings exceeding 97,700, valued at about $261 million at current prices.

* Demand for the US-listed Ethereum ETFs has remained weak since their launch on July 23.

* BlackRock’s iShares Ethereum Trust (ETHA) currently leads in net inflows and was the first to reach $1 billion in net capital.

* It is followed by Fidelity’s Ethereum Fund (FETH) and Bitwise’s ETHW.

* While the Ethereum ETFs faced a downturn, their Bitcoin counterparts enjoyed a third consecutive day of gains, collectively adding $4.5 million, according to Farside’s data.

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