Investors have pulled nearly $2 billion from Grayscale's Ethereum ETF (ETHE) since it transitioned from a trust, with the fund's value now at $6.7 billion due to declining Ethereum prices.
On Wednesday alone, ETHE saw $133 million in withdrawals, though this wasn’t its largest single-day outflow, which was $484 million on its debut.
In contrast, the Grayscale Ethereum Mini Trust (ETH) has seen a positive inflow trend, with $19.5 million added on Wednesday, bringing total inflows to over $200 million.
ETH offers a lower management fee of 0.15%, compared to ETHE’s 2.5%, positioning it as the most cost-effective Ethereum ETF.
Grayscale’s new Bitcoin Mini Trust (BTC), launched yesterday and has already attracted $18 million.
This fund, which also has a 0.15% fee, aims to offer a cheaper alternative to the existing Bitcoin Trust (GBTC) and alleviate some of the selling pressure on GBTC by reallocating some of its assets.
XRP is back in the spotlight after crypto analyst EGRAG CRYPTO highlighted a powerful historical pattern on the weekly timeframe—the bullish crossover of the 21 EMA and 55 SMA.
Crypto markets are buzzing with momentum as several altcoins post double-digit gains and surging volumes.
Sui (SUI) surged 14% in the past 24 hours, reaching $4.26 as bullish technical patterns, Bitcoin’s rebound, and renewed ETF speculation pushed the altcoin higher.
Hedera Hashgraph (HBAR) is closely tracking its 2021 price behavior, according to crypto analyst Rekt Capital.