Significant Outflows Hit Grayscale Ethereum Trust Amid Mixed ETF Performance

On August 2, U.S. spot Ether ETFs experienced notable financial shifts.

The Grayscale Ethereum Trust (ETHE) recorded a significant outflow of $2.1 billion, contributing to a total net outflow of over $54 million from all spot Ethereum ETFs that day, according to SoSoValue data.

ETHE, which has offered Ethereum exposure without direct cryptocurrency purchase since 2017, saw a single-day net outflow exceeding $61 million. Despite ETHE’s substantial withdrawals, the Grayscale Ethereum Mini Trust ETF (ETH) remained stable with no outflows and a net inflow of $201 million.

In contrast, the Fidelity Ethereum Fund (FETH) saw the highest net inflows on August 2, with an addition of over $6 million, bringing its total to $297 million. Similarly, the Franklin Ethereum ETF (EZET) reported a positive inflow of over $1 million, totaling $30.6 million in net inflows.

As of August 3, the combined net asset value of spot Ether ETFs was $8.3 billion, with a net asset ratio of 2.29%. Since their introduction on July 23, these ETFs have experienced cumulative net outflows of $511 million. However, on August 1, spot Ether ETFs collectively posted a positive net inflow of $26.7 million, led by BlackRock’s iShares Ethereum Trust (ETHA) with $89.6 million.

ETH was trading at $2,987 at the time, down approximately 5.71% since the ETFs’ launch.