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.
Ripple Chairman Chris Larsen has recently moved 20 million XRP as part of a larger shuffle involving 50 million tokens.
Crypto-focused travel booking platform Travala has announced its integration with Solana, the fourth-largest blockchain by market cap, marking its third network addition after Ethereum and BNB Chain. CEO Juan Otero revealed this development during a panel at Solana Breakpoint in Singapore.
Crypto analyst Ali Martinez has indicated that an altseason may be imminent, a phase where alternative cryptocurrencies outperform Bitcoin.
The Pyth Network has introduced Oracle Integrity Staking (OIS), a feature designed to enhance accountability among data sources by implementing staking rewards and penalties.