Grayscale’s ETH ETF struggles with outflows, dragging Ethereum’s price

Ethereum ETFs faced $6.5M outflow as of 20th August, with Grayscale’s ETHE leading the decline. Will this impact ETH?

In reality, ETH has faced a decline, trading at $2,584 at press time, down 2.94% over the past 24 hours, according toMoreover, Ethereum ETFs have experienced a notable net outflow of $6.5 million as of the 20th of August, with the trend of outflows persisting since the 15th of August, per

A closer examination of the data revealed a striking pattern wherein Grayscale’s ETHE has been enduring a continuous outflow streak that significantly overshadows the total flows for ETH ETFs. As of the 20th of August, ETHE alone accounted for $37 million in outflows, contributing to the overall $6.5 million net outflow for Ethereum ETFs.

Since its inception, ETHE has seen a staggering net outflow of $247.8 million, while the total net ouflow across all Ethereum ETFs stands at $440.5 million.However, despite the widespread belief that the launch of ETFs is inherently bullish for Ethereum and other assets, crypto analyst“The last method seems completely out of everyone’s mind and there’s this “echo chamber” in which the majority believe that ETF ~> bullish.

This perspective suggests that ETFs are not merely bullish instruments but can be used to manipulate markets for institutional gain, casting doubt on their supposed positive impact on asset values.On certain days, the outflows from GBTC have exceeded the net outflows of the broader Bitcoin ETF market, highlighting similar patterns of institutional movement and potential market manipulation.Ishika is a graduate of Political Science from the University of Delhi.

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