Ethereum ETF: One of the best trading openings ever

The launch of the Ethereum ETF did not go without fits and starts. The fluctuations in global stock markets also caused considerable turmoil in the crypto market, including Ethereum. As the price dropped below $3,000, investments in the recently launched ETH ETFs soared. One name in particular stood out: BlackRock.

If you look at trading volume, the start of Ethereum ETFs was the "second best in the history of ETFs," according to Bloomberg analysts Eric Balchunas and James Seyffart. But a global stock market crash and the Grayscale fund threw a spanner in the works. Indeed, continued trading in ETFs was quite turbulent, which was evident in the sharp swings in money inflows. After an impressive inflow of more than $100 million immediately at launch, significant net outflows followed in the following days.

In recent days, however, the trend seems to be stabilizing - with smaller but steady inflows. Remarkably, in the most turbulent week in the crypto market, the ETH ETF reached positive net inflows on a weekly basis for the first time. Did the "Smart Money" perhaps buy up the dip?

Grayscale Ethereum ETF sees big outflows

As with Bitcoin ETFs, the Grayscale Ethereum Trust (ETHE) played a significant role in the initial outflows. This is likely due to the asset manager's continued adherence to ten times higher typical fund management fees. The result was predictable: investors punished this strategy harshly. Particularly notable was the extreme outflows of more than $500 million on July 23, which put heavy pressure on Ethereum and raised major concerns about the future of the largest ETH ETF at the moment.