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.
On December 13, 2024, at 11:00 AM, Binance will list several new trading pairs on the spot market.
A popular crypto analyst has shared an optimistic outlook for Dogecoin (DOGE), suggesting that the memecoin could potentially surge into double-digit territory based on historical trends.
Ripple’s recent approval from the New York Department of Financial Services for its stablecoin, RLUSD, has sparked a sligt increase in XRP’s price,
Santiment, a cryptocurrency analytics firm, has recently highlighted several altcoins that saw the highest growth in new wallets this week, despite a partial downturn in the broader market.