Ethereum ETFs $100M Debut BlackRock Dominates Grayscale Falters

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As expected, there has been a huge exodus from the newly converted Grayscale spot Ethereum exchange-traded fund on its first day of trading.

Spot Ethereum ETFs began trading in the United States for the first time on July 23, and the initial picture isn’t pretty for the world’s largest crypto asset manager.

As expected, Grayscale’s newly converted Ethereum Trust (ETHE) hemorrhaged $484 million on day one of trading.

If the situation mirrors that when Grayscale converted its Bitcoin Trust to a spot ETF, the fund could lose half of its assets under management. This would equate to around $4.5 billion worth of Ethereum.


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