Photo credit: Grayscale on X

Outflows from the Grayscale Ethereum Trust ETF (ETHE) have crossed the $2 billion mark, with the fund shedding $77.95 million on Aug. 1.

Grayscale’s ETHE has lost an average of about $256.86 million daily since its conversion into a spot ETF and trading debut on July 23, data from SoSoValue shows. As of the last trading day, the fund has seen net outflows amounting to approximately $2.06 billion.

Meanwhile, Grayscale’s Ethereum Mini Trust, which had consistently seen daily net inflows, experienced its first day with no flow activity, joining other Ether funds from VanEck, Franklin Templeton, 21Shares, Invesco, and Galaxy in reporting no inflows nor outflows for the day.

Only three Ether ETFs saw net inflows on Aug. 1 — Blackrock’s iShares Ethereum Trust (ETHA), with $89.65 million, followed by Fidelity’s FETH ($11.7 million) and Bitwise’s ETHW ($3.35 million), according to SoSoValue.

The nine spot Ether ETFs listed in the United States, overall, posted $26.75 million in net inflows on the last trading day, reversing net outflows the day before. To date, the funds have a trading volume of $331.11 million, with $8.72 billion in total net assets.

Grayscale sheds $21B from Bitcoin and Ether ETFs

Grayscale’s ETHE holds the largest amount of Ether among all Ethereum ETFs, while its Bitcoin Trust ETF (GBTC) is the second-largest among the 12 spot Bitcoin ETFs in the US. Despite their leading positions, both Grayscale funds have seen the most cumulative net outflows, with a combined total of approximately $21 billion.

GBTC led daily net outflows on Aug. 1, logging $71.33 million in negative flows. Four other funds, namely the Fidelity Wise Origin Bitcoin Fund (FBTC), Ark 21 Shares Bitcoin ETF (ARKB), Bitwise Bitcoin ETF (BITB), and VanEck Bitcoin Trust (HODL), also saw outflows, bringing the total net outflows to $166.4 million on the day, SoSoValue data shows. However, Grayscale’s recently approved Bitcoin Mini Trust and Blackrock’s iShares Bitcoin Trust recorded $191.13 million and $25.9 million in net inflows, respectively, offsetting the negative trend. Overall, spot Bitcoin ETFs saw a net inflow of $50.64 million on the last trading day.

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