Ethereum (ETH) price is down nearly 15% since the exchange-traded funds (ETFs) first trading day on July 23. Grayscale’s Trust (ETHE) registered over $2 billion in outflows, creating a relevant selling pressure that could now be “almost over.”
Notably, Grayscale, a leading cryptocurrency asset manager, currently offers two Ethereum spot ETFs: ETHE and the Mini Trust (ETH). The former, however, is being heavily sold due to its higher fees in comparison to the growing competitors.
However, Arkham Intelligence reported a massive 80% drop in ETHE outflows during the week, suggesting “the selling is almost over.” The report shows a 108,800 ETH outflow on Monday against a 24,900 ETH outflow on Friday.
GRAYSCALE ETHE OUTFLOWS DOWN ~80% THIS WEEK
Grayscale ETHE outflows this week are down almost 80%.
Monday: 108.8K ETH ($367.6M) sent to CoinbaseFriday: 24.9K ETH ($78.4M) sent to Coinbase
Is the selling almost over? 👀 pic.twitter.com/QfooUqtjqo
— Arkham (@ArkhamInte
We współpracy z: https://finbold.com/ethereum-selling-spree-almost-over-with-80-eth-outflow-drop/
