Cryptocurrencies
Ether ETFs See $340 Million Outflow in First Week of Trading
- Grayscale’s Ether Trust lost over $1.5 billion last week
- Inflows for the eight new Ether ETFs was $1.17 billion
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The nine US ETFs holding the Ethereum cryptocurrency saw outflows of $340 million during their first week of trading as investors pulled money daily from a high-fee legacy product that was converted to an exchange-traded fund.
The eight new Ether exchange-traded funds minted following last week’s approval from the US Securities and Exchange Commission took in $1.17 billion in the four trading days ended July 26, according to data compiled by Bloomberg.