On July 26, investors withdrew $356.3 million from the Grayscale Ethereum Trust (ETHE), bringing the total outflow since the approval of the products to $1.51 billion, according to SoSoValue.
The total outflow across all ETH-ETFs for the last reporting day was $162.67 million, with a cumulative outflow of $341.4 million. Due to improved market conditions, the AUM of these instruments rose to $9.2 billion (2.4% of capitalization).
ETHE clients are reacting to the higher fees compared to competitors (0.19–0.25%), which stand at 2.5%. Grayscale also launched the Grayscale Mini Trust Ethereum ETF (ETH), with fees equivalent to 0.15%. Some of the funds withdrawn from ETHE ($1.51 billion) may have been redirected to ETH ($164.1 million).
The leaders in this regard are ETHA from BlackRock ($442.1 million), ETHW from Bitwise ($266 million), and FETH from Fidelity ($219.4 million).
For other products, the total inflow ranged from $7.5 million (CETH from 21 Shares) to $35.5 million (ETHV from VanEck).
BTC-ETF
Spot Bitcoin ETFs continued to see positive inflows, with a net inflow recorded at $51.7 million.
Investors contributed $31.4 million to BITB from Bitwise and $23.2 million to IBIT from BlackRock, surpassing the $26.6 million withdrawn from GBTC by Grayscale.
The inflow into HODL from VanEck was $19.2 million, and $4.5 million into FBTC from Fidelity. Other instruments saw no changes.
Total inflows since the approval of BTC-ETFs in January have reached $17.6 billion.
BlackRock has expressed doubts about expanding the list of registered SEC exchange-traded funds based on altcoins.
On July 8, Cboe BZX filed form 19b-4 for the 21Shares Core Solana ETF and VanEck Solana Trust. According to the rules, the agency has 240 days to decide whether to approve the rule changes necessary for listing VanEck and 21Shares products on the platform.