{"id":610233,"date":"2024-05-28T22:00:37","date_gmt":"2024-05-28T22:00:37","guid":{"rendered":"https:\/\/www.ktsl888.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:\/\/www.ktsl888.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":"<p><span style=\"font-weight: 400\">A <\/span><a href=\"https:\/\/research.kaiko.com\/insights\/is-eth-headed-for-a-bull-run\" rel=\"nofollow\"><span style=\"font-weight: 400\">recent market report<\/span><\/a><span style=\"font-weight: 400\"> 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><a href=\"https:\/\/bitcoinist.com\/grayscale-spot-bitcoin-etf\/\" rel=\"nofollow\"><span style=\"font-weight: 400\">Grayscale\u2019s Bitcoin Trust (GBTC)<\/span><\/a><span style=\"font-weight: 400\">.<\/span><\/p>\n<h2>Ethereum Could Face Significant Selling Pressure From Grayscale\u2019s Outflows<\/h2>\n<p><span style=\"font-weight: 400\">Kaiko noted that <\/span><span style=\"font-weight: 400\">Ethereum<\/span><span style=\"font-weight: 400\"> could face significant selling pressure from Grayscale\u2019s ETHE once the Spot Ethereum ETFs begin trading. This is because the fund has been <\/span><a href=\"https:\/\/bitcoinist.com\/gbtc-bitcoin-reaches-largest-discount-ever\/\" rel=\"nofollow\"><span style=\"font-weight: 400\">trading at a discount<\/span><\/a><span style=\"font-weight: 400\"> 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<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/www.ktsl888.com\/analysis\/xrp\/xrp-price-crash-80-to-0-10\/\">Crypto Analyst Says XRP Price Will Crash 80% To $0.10, What\u2019s The Trigger?<\/a><\/div>\n<p><span style=\"font-weight: 400\">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&#8217;s AuM.\u00a0<\/span><\/p>\n<p><a href=\"https:\/\/bitcoinist.com\/fidelity-gbtc-spot-bitcoin-etfs\/\" rel=\"nofollow\"><span style=\"font-weight: 400\">Grayscale\u2019s Bitcoin Trust (GBTC)<\/span><\/a><span style=\"font-weight: 400\"> 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<p><span style=\"font-weight: 400\">The outflows that <\/span><a href=\"https:\/\/bitcoinist.com\/grayscale-bitcoin-trust-first-inflows-in-3-months\/\" rel=\"nofollow\"><span style=\"font-weight: 400\">Grayscale\u2019s Spot Bitcoin ETF<\/span><\/a><span style=\"font-weight: 400\"> 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<p><span style=\"font-weight: 400\">However, besides investors taking profit from Grayscale\u2019s Bitcoin ETF, Grayscale\u2019s fund fee is believed to be another factor that sparked the <\/span><a href=\"https:\/\/bitcoinist.com\/bitcoin-looks-stable-despite-heightened-gbtc-outflows-investors-count-on-meda-presale-skyrockets\/\" rel=\"nofollow\"><span style=\"font-weight: 400\">significant outflows<\/span><\/a><span style=\"font-weight: 400\"> 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<h2>Ethereum\u2019s Future Trajectory Still Bullish<\/h2>\n<p><span style=\"font-weight: 400\">Kaiko suggested that <\/span><a href=\"https:\/\/bitcoinist.com\/altcoin-season-ethereum-breakout\/\" rel=\"nofollow\"><span style=\"font-weight: 400\">Ethereum<\/span><\/a><span style=\"font-weight: 400\"> 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><a href=\"https:\/\/bitcoinist.com\/grayscale-bitcoin-etf-outflows-end-experts\/\" rel=\"nofollow\"><span style=\"font-weight: 400\">Grayscale GBTC\u2019s outflows<\/span><\/a><span style=\"font-weight: 400\"> were offset and surpassed by inflows from other Bitcoin ETFs by the end of January.\u00a0<\/span><\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/www.ktsl888.com\/analysis\/xrp\/28900-rally-to-154-for-xrp-price\/\">Crypto Analyst Predicts 28,900% Rally To $154 For XRP Price, Here\u2019s When<\/a><\/div>\n<p><span style=\"font-weight: 400\">Thanks to the impressive demand that these Bitcoin ETFs recorded, the flagship crypto hit a <\/span><a href=\"https:\/\/bitcoinist.com\/bitcoin-breaks-through-69000-setting-new-record\/\" rel=\"nofollow\"><span style=\"font-weight: 400\">new all-time high (ATH)<\/span><\/a><span style=\"font-weight: 400\"> 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<p><span style=\"font-weight: 400\">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><a href=\"https:\/\/bitcoinist.com\/ethereum-security-considered-in-eth-spot-etf\/\" rel=\"nofollow\"><span style=\"font-weight: 400\">regulatory uncertainty<\/span><\/a><span style=\"font-weight: 400\"> that has weighed on Ethereum\u2019s price for some time now.\u00a0<\/span><\/p>\n<figure style=\"width: 3286px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" class=\"size-medium\" src=\"https:\/\/www.tradingview.com\/x\/gt23pnKs\/\" alt=\"Ethereum price chart from Tradingview.com\" width=\"3286\" height=\"1576\"><figcaption class=\"wp-caption-text\">ETH price still above $3,800 | Source: <a href=\"http:\/\/Tradingview.com\" rel=\"nofollow\">ETHUSDT on Tradingview.com<\/a><\/figcaption><\/figure>\n<div class=\"disclaimer-shortcode\">Featured image from NewsBTC, chart from Tradingview.com<\/div>\n","protected":false},"excerpt":{"rendered":"<p>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&#8217;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":"\n<title>Ethereum Spot ETFs: Report Shows Grayscale Could Keep ETH Price Down With $110M Daily Outflows<\/title>\n<meta name=\"description\" content=\"A recent 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