Key Points
- Grayscale’s Ethereum Trust ETF experienced $1.5 billion in outflows from 23rd to 26th July.
- BlackRock’s iShares Ethereum Trust ETF attracted $87.2 million in inflows on 26th July.
The Grayscale Ethereum Trust ETF [ETHE] saw a substantial decrease in funds from the 23rd to the 26th of July, with total outflows exceeding $1.5 billion. The most significant single-day net outflow was $356 million, which occurred on the 26th of July. This data was provided by Farside Investors.
Grayscale’s Record-Breaking Outflows
This dramatic decrease signifies a significant shift in investor sentiment. It leads to the question of whether investors should buy Ethereum (ETH) before a potential price increase due to Grayscale’s dwindling supply and higher demand.
Market analysts have suggested that buying ETH before Grayscale runs out could be a straightforward trade. This advice is based on the assumption that scarcity could drive up the price.
Ethereum’s Market Performance
In terms of Ethereum’s market performance, the largest altcoin was trading at $3,366, a 4% increase over the past 24 hours. The Relative Strength Index (RSI) was above the neutral level at 51, indicating a bullish momentum. The closing Bollinger Bands showed decreasing volatility, which suggests that the bullish trend could continue.
ETH ETF Flow Analysis
Despite the outflows from Grayscale’s Ethereum Trust ETF, the Ethereum Mini Trust ETF experienced a net inflow of $44.9 million on the 26th of July. Its total net inflows since inception have reached $164 million.
In contrast, BlackRock’s iShares Ethereum Trust ETF (ETHA) saw significant investor interest, recording a net inflow of $87.2 million on the same day. This surge brought ETHA’s total net inflows to $442 million, indicating its leading position in the market.
Despite Grayscale’s underperformance, investor optimism for Ethereum ETFs remains strong, thanks to inflows into other ETFs.
