Grayscale Ethereum Trust Records Zero Outflows for First Time Since Conversion
The Grayscale Ethereum Trust (ETHE) has finally recorded a day with no outflows since its launch, breaking a streak of consecutive daily outflows. This coincided with a rise in on-chain activity for Ethereum and its layer-2 networks.
According to data from Farside, the Ether exchange-traded fund (ETF) saw its fifth day of positive flows on August 12, thanks to ETHE’s zero outflows. However, since its launch, ETHE has lost almost $2.3 billion in Ether.
ETHE previously held $9 billion in ETH before its conversion, making it apparent that the fund has shed more than a quarter of its total holdings in just two and a half weeks since the ETFs went live.
In comparison, Grayscale‘s Bitcoin Trust (GBTC) took close to four months before it experienced a day with no outflows.
