Ethereum ETF Excitement Lasted Only 1 Day: Second Day Data is Negative! - Coin Bulletin

Nine US-based spot Ethereum ETFs closed their second trading day with negative data.

Spot Ethereum ETFs were launched on July 23rd, with a $1 billion transaction volume on the first day, along with a recorded net inflow of $106.7 million.

But the second day turned the wind against 9 Ethereum ETFs based in the US. According to end-of-day data, there was a net outflow of $133.16 million from spot Ethereum ETFs on July 24.

According to SosoValue data, Grayscale Ethereum Trust (ETHE) was the only fund to experience a net outflow of $326.86 million. Although the other 8 funds had net inflows, Grayscale's outflow could not be offset.

Fidelity's FETH received $74.46 million inflows, Grayscale Ethereum Mini Trust received $45.93 million, Bitwise ETHW received $29.64 million, and VanEck ETHV received $19.84 million net inflows.

Again Grayscale effect

Grayscale's GBTC Bitcoin ETF had also experienced similar outflows and had a negative impact on the price. This outflow, just like in the case of Bitcoin, was associated with investors wanting to transition from the old Grayscale fund to new and cheaper transaction fee funds.

The cryptocurrency market woke up in red on July 25, experiencing a significant pullback parallel to the instability in global markets.

According to CoinGecko data, Ethereum, which lost 8% of its value in the last 24 hours, is currently trading at $3,173.