US ETH Spot ETFs May Face Resistance From Grayscale Outflows
CryptoNewsTerminal Staff26 Jul, 2024
US ETH Spot ETFs May Face Resistance From Grayscale Outflows
US ETH Spot ETFs: Outflows From Grayscale Dampen Growth Prospects The recently launched Ether (ETH) spot exchange-traded funds (ETFs) in the US market are encountering resistance due to offsetting outflows from Grayscale's ETH-backed trust, ETHE. According to Bloomberg ETF analyst Eric Balchunas, the eight new ETH spot ETFs are not experiencing the same momentum as Bitcoin spot ETFs upon their debut. This slowdown is attributed to the outflows from ETHE. Despite the outflows, Balchunas notes that the inflows and trading volume metrics for ETH spot ETFs remain healthy. Additionally, the outflows from ETHE have been less severe than those observed in Grayscale's Bitcoin trust (GBTC). However, Balchunas cautions that the ETHE outflows could present headwinds for ETH spot ETFs in the near term. These outflows may dampen investor enthusiasm and limit the growth potential of these ETFs.
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