Ethereum comment from a famous analyst: Beautiful days are near

According to an analyst, outflows from Grayscale's Ethereum ETF may slow down in the near future and have a positive impact on the market.

Steno Research Senior Analyst Mads Eberhardt said that the large outflows from Grayscale's ETHE will 'probably' decrease this week. ETHE has seen over $1.7 billion in outflows since its conversion. This figure represents approximately 18% of the initial $9 billion in ETHE before it was converted to an ETF on July 24th.

Despite the steady positive flows of the other eight ETH ETFs, this figure has prevented Ether ETFs from making net inflows for the past four days.

Grayscale will be decisive in Ethereum's progress.

While BlackRock's spot ETH fund received the largest inflows with a cumulative entry of $500 million, Bitwise's fund saw $276 million and Fidelity came in third with $244 million in net inflows. However, Eberhardt believes that strong early outflows are a reason for a short-term bullish trend.

“The Grayscale Bitcoin ETF issuance has significantly decreased after the eleventh trading session,” he said.

Trader named Evanss6 expressed Eberhardt's opinion by comparing Bitcoin ETFs with Ethereum ETFs in a post sent to X on July 30th. Evan wrote that the outflows from Bitcoin ETFs hit the bottom on the seventh trading day, and the bottom level was reached when the cumulative outflows from Grayscale Bitcoin Trust (GBTC) reached 13.2% of the original fund.

He added that Bitcoin had "lost about 92% of its value in approximately 50 days" after the GBTC outflows hit bottom. In contrast, Grayscale's Ether ETF was "sold much faster than GBTC" and reached 17.3% in just four days, at which time ETH generally experienced a shallower pullback in price compared to BTC.

This article does not contain investment advice or recommendation. Every investment and trading operation carries risk, and readers should conduct their own research when making decisions.