Krutika Adani
On 25 July 2024, Ethereum fell from $3467 to $3113, with a loss of 9%.
The main trigger for the ETH crash came from Grayscale which seems to have singlehandedly caused the crash.
In the first two days of their launch, Grayscale sold more than $800 million in ETH.
A high fee of 1.5% in Grayscale as compared to 0.25% fee by its comepetitors forced the users to redeem their money.
Due to the exodus from Grayscale, Ethereum ETFs suffered a new outflow on the second day after launch.