Krutika Adani
After a rocky start to the launch of the Ethereum ETF market, these products finally reversed course with an impressive $33.6 million on 30 July.
These inflows were small but well received, considering the ongoing $547 million outflows from these products since their 24 July launch.
BlackRock’s ETHA as usual, led the way with $117 million worth of inflows.
Grayscale’s ETHE, which had been red since launch, remained red—but with smaller outflows of $120 million.
Analyst, Michael van de Poppe says that when these outflows from the $ETHE goes below $100 million, the price of Ethereum will reverse to the upside.