{"id":610233,"date":"2024-05-28T22:00:37","date_gmt":"2024-05-28T22:00:37","guid":{"rendered":"https:\/\/wncen.com\/?p=610233"},"modified":"2024-05-28T14:34:10","modified_gmt":"2024-05-28T14:34:10","slug":"ethereum-spot-etfs-grayscale","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/ethereum\/ethereum-spot-etfs-grayscale\/","title":{"rendered":"Ethereum Spot ETFs: Report Shows Grayscale Could Keep ETH Price Down With $110M Daily Outflows"},"content":{"rendered":"

A <\/span>recent market report<\/span><\/a> by research firm Kaiko noted how Grayscale\u2019s Spot Ethereum ETF could have a negative impact on Ethereum\u2019s (ETH) price. This is based on the firm\u2019s expectations that Grayscale\u2019s Ethereum Trust (ETHE) could follow a similar path to <\/span>Grayscale\u2019s Bitcoin Trust (GBTC)<\/span><\/a>.<\/span><\/p>\n

Ethereum Could Face Significant Selling Pressure From Grayscale\u2019s Outflows<\/h2>\n

Kaiko noted that <\/span>Ethereum<\/span> could face significant selling pressure from Grayscale\u2019s ETHE once the Spot Ethereum ETFs begin trading. This is because the fund has been <\/span>trading at a discount<\/span><\/a> between 6% and 26% over the past three months, with a wave of profit-taking likely to concur. It is worth mentioning that Grayscale\u2019s ETHE has previously operated as a closed-end fund, with Grayscale simply applying to convert it to an exchange-traded fund (ETF).\u00a0<\/span><\/p>\n

Related Reading: Crypto Analyst Says XRP Price Will Crash 80% To $0.10, What\u2019s The Trigger?<\/a><\/div>\n

The research firm noted that Grayscale\u2019s ETHE has over $11 billion in assets under management (AuM). That means that $110 million of daily average outflows could leave the fund if Grayscale\u2019s Ethereum ETF sees a similar magnitude of outflows to Grayscale\u2019s Bitcoin ETF, whose $6.5 billion outflows in the first month of trading amounted to 23% of the fund’s AuM.\u00a0<\/span><\/p>\n

Grayscale\u2019s Bitcoin Trust (GBTC)<\/span><\/a> also operated in a similar fashion before it was converted to an ETF. This is believed to have contributed to the $6.5 billion outflows the fund recorded in the first month of trading, with many investors taking profit since they purchased the fund at a discount. Therefore, Kaiko expects that something similar could happen with Grayscale\u2019s ETHE.\u00a0<\/span><\/p>\n

The outflows that <\/span>Grayscale\u2019s Spot Bitcoin ETF<\/span><\/a> is known to have exerted significant selling pressure on Bitcoin\u2019s price, causing the flagship crypto to decline significantly. As such, the same thing can be expected with Ethereum\u2019s price if Grayscale\u2019s Spot Ethereum ETF suffers a similar fate.\u00a0<\/span><\/p>\n

However, besides investors taking profit from Grayscale\u2019s Bitcoin ETF, Grayscale\u2019s fund fee is believed to be another factor that sparked the <\/span>significant outflows<\/span><\/a> it recorded back then. For context, Grayscale\u2019s fee was the highest among all the Bitcoin ETF issuers. As such, the potential outflows from Grayscale\u2019s Ethereum ETF could be minimally reduced if the asset manager makes it fee competitive this time around.\u00a0<\/span><\/p>\n

Ethereum\u2019s Future Trajectory Still Bullish<\/h2>\n

Kaiko suggested that <\/span>Ethereum<\/span><\/a> is still bound to make significant price gains once other Ethereum Spot ETFs begin to record impressive inflows that can overshadow the outflows from Grayscale\u2019s ETHE. Something similar happened with Bitcoin, as Kaiko noted that <\/span>Grayscale GBTC\u2019s outflows<\/span><\/a> were offset and surpassed by inflows from other Bitcoin ETFs by the end of January.\u00a0<\/span><\/p>\n

Related Reading: Crypto Analyst Predicts 28,900% Rally To $154 For XRP Price, Here\u2019s When<\/a><\/div>\n

Thanks to the impressive demand that these Bitcoin ETFs recorded, the flagship crypto hit a <\/span>new all-time high (ATH)<\/span><\/a> in March earlier this year. The Ethereum ETFs could also trigger such a rally for ETH\u2019s price depending on the amount of inflows these funds record once they begin trading.\u00a0<\/span><\/p>\n

Meanwhile, Kaiko noted that even if the inflows disappoint in the short term, the mere approval of these funds already has \u201cimportant implications for ETH as an asset\u201d since it confirms that it isn\u2019t a security. This has helped remove the <\/span>regulatory uncertainty<\/span><\/a> that has weighed on Ethereum\u2019s price for some time now.\u00a0<\/span><\/p>\n

\"Ethereum
ETH price still above $3,800 | Source: ETHUSDT on Tradingview.com<\/a><\/figcaption><\/figure>\n
Featured image from NewsBTC, chart from Tradingview.com<\/div>\n","protected":false},"excerpt":{"rendered":"

A recent market report by research firm Kaiko noted how Grayscale\u2019s Spot Ethereum ETF could have a negative impact on Ethereum\u2019s (ETH) price. This is based on the firm\u2019s expectations that Grayscale\u2019s Ethereum Trust (ETHE) could follow a similar path to Grayscale\u2019s Bitcoin Trust (GBTC). Ethereum Could Face Significant Selling Pressure From Grayscale\u2019s Outflows Kaiko noted that Ethereum could face significant selling pressure from Grayscale\u2019s ETHE once the Spot Ethereum ETFs begin trading. This is because the fund has been trading at a discount between 6% and 26% over the past three months, with a wave of profit-taking likely to concur. It is worth mentioning that Grayscale\u2019s ETHE has previously operated as a closed-end fund, with Grayscale simply applying to convert it to an exchange-traded fund (ETF).\u00a0 Related Reading: Crypto Analyst Says XRP Price Will Crash 80% To $0.10, What\u2019s The Trigger? The research firm noted that Grayscale\u2019s ETHE has over $11 billion in assets under management (AuM). That means that $110 million of daily average outflows could leave the fund if Grayscale\u2019s Ethereum ETF sees a similar magnitude of outflows to Grayscale\u2019s Bitcoin ETF, whose $6.5 billion outflows in the first month of trading amounted to 23% of the fund’s AuM.\u00a0 Grayscale\u2019s Bitcoin Trust (GBTC) also operated in a similar fashion before it was converted to an ETF. This is believed to have contributed to the $6.5 billion outflows the fund recorded in the first month of trading, with many investors taking profit since they purchased the fund at a discount. Therefore, Kaiko expects that something similar could happen with Grayscale\u2019s ETHE.\u00a0 The outflows that Grayscale\u2019s Spot Bitcoin ETF is known to have exerted significant selling pressure on Bitcoin\u2019s price, causing the flagship crypto to decline significantly. As such, the same thing can be expected with Ethereum\u2019s price if Grayscale\u2019s Spot Ethereum ETF suffers a similar fate.\u00a0 However, besides investors taking profit from Grayscale\u2019s Bitcoin ETF, Grayscale\u2019s fund fee is believed to be another factor that sparked the significant outflows it recorded back then. For context, Grayscale\u2019s fee was the highest among all the Bitcoin ETF issuers. As such, the potential outflows from Grayscale\u2019s Ethereum ETF could be minimally reduced if the asset manager makes it fee competitive this time around.\u00a0 Ethereum\u2019s Future Trajectory Still Bullish Kaiko suggested that Ethereum is still bound to make significant price gains once other Ethereum Spot ETFs begin to record impressive inflows that can overshadow the outflows from Grayscale\u2019s ETHE. Something similar happened with Bitcoin, as Kaiko noted that Grayscale GBTC\u2019s outflows were offset and surpassed by inflows from other Bitcoin ETFs by the end of January.\u00a0 Related Reading: Crypto Analyst Predicts 28,900% Rally To $154 For XRP Price, Here\u2019s When Thanks to the impressive demand that these Bitcoin ETFs recorded, the flagship crypto hit a new all-time high (ATH) in March earlier this year. The Ethereum ETFs could also trigger such a rally for ETH\u2019s price depending on the amount of inflows these funds record once they begin trading.\u00a0 Meanwhile, Kaiko noted that even if the inflows disappoint in the short term, the mere approval of these funds already has \u201cimportant implications for ETH as an asset\u201d since it confirms that it isn\u2019t a security. This has helped remove the regulatory uncertainty that has weighed on Ethereum\u2019s price for some time now.\u00a0 Featured image from NewsBTC, chart from Tradingview.com<\/p>\n","protected":false},"author":594,"featured_media":610253,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[13625],"tags":[8323,89213,16163,1946,10384,7931,6931,8686,78803,89986],"class_list":["post-610233","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ethereum","tag-eth","tag-eth-news","tag-eth-price","tag-ethereum","tag-ethereum-etf","tag-ethereum-news","tag-ethereum-price","tag-ethusd","tag-ethusdt","tag-spot-ethereum-etf"],"acf":[],"yoast_head":"\nEthereum Spot ETFs: Report Shows Grayscale Could Keep ETH Price Down With $110M Daily Outflows<\/title>\n<meta name=\"description\" content=\"A recent market 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Having witnessed the evolving landscape of the crypto world firsthand, Scott is able to dissect complex crypto topics and present them in an accessible and engaging manner. Scott's dedication to clarity and accuracy has made him an indispensable asset, helping to demystify the complex world of cryptocurrency for countless readers. Scott\u2019s experience spans a number of industries outside of crypto including banking and investment. He has brought his vast experience from these industries into crypto, which allows him to understand even the most complex topics and break them down in a way that is easy for readers from all works of life to understand. Scott\u2019s pieces have helped to break down cryptocurrency processes and how they work, as well as the underlying groundbreaking technology that makes them so important to everyday life. With years of experience in the crypto market, Scott began to focus on his true passion: writing. During this time, Scott has been able to author countless influential pieces that have drawn in millions of readers and have shaped public opinion across various important topics. His repertoire spans hundreds of articles on various sectors in the crypto industry, including decentralized finance (DeFi), decentralized exchanges (DEXes), Staking, Liquid Staking, emerging technologies, and non-fungible tokens (NFTs), among others. Scott\u2019s influence is not just limited to the countless discussions that his publications have sparked but also as a consultant for major projects in the space. He has consulted on issues ranging from crypto regulations to new technology deployment. Scott\u2019s expertise also spans community building and contributes to a number of causes to further the development of the crypto industry. Scott is an advocate for sustainable practices within the crypto industry and has championed discussions around green blockchain solutions. His ability to keep in line with market trends has made his work a favorite among crypto investors. In his personal life, Scott is an avid traveler and his exposure to the world and various way of life has helped him to understand how important technologies like the blockchain and cryptocurrencies are. This has been key in his understanding of its global impact, as well as his ability to connect socio-economic developments to technological trends around the globe like no one else. Scott is known for his work in community education to help people understand crypto technology and how its existence impacts their lives. He is a well-respected figure in his community, known for his work in helping to enlighten and inspire the next generation as they channel their energies into pressing issues. His work is a testament to his dedication and commitment to education and innovation, as well as the promotion of ethical practices in the rapidly developing world of cryptocurrencies. 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