Grayscale's ETHE Sees Outflows 3X Faster Than GBTC

IconCryptoNewsTerminal Staff25 Jul, 2024

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Grayscale's ETHE Sees Outflows 3X Faster Than GBTC

Grayscale's Ethereum spot ETF, ETHE, has seen net outflows of 13% of its ETH holdings over three days, with 2.28 million ETH remaining in the fund. This is three times faster than the pace of outflows from GBTC, which saw net outflows of only 4% (25,000 BTC) of its BTC holdings in the three days following its launch in January. Assuming a similar pattern to GBTC, this puts ETHE on track to see 50% of its holders switch to other ETFs. Previously, financial intelligence platform Farside Investors attributed the faster rate of outflows from ETHE compared to GBTC to factors such as timing, lack of staking options, and a difference in fees (1.5% for GBTC vs. 2.5% for ETHE).

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