The cost of the Greyscale Ethereum ETF exceeds $2B

Ether exchange-traded funds (ETFs), based in the United States, saw significant activity on August 2, with outflows from the Grayscale Ethereum Trust (ETHE) reaching $2.1 billion.

According to data from SoSoValue, total net outflows from Spot Ether (ETH) ETFs exceeded $54 million on August 2. A significant portion of the one-day net inflow came from ETHE, which generated more than $61 million.

Greyscale's Ethereum Trust ETF Faces More Outflows

ETHE has been a prominent player since 2017 offering exposure to Ethereum without the need to directly purchase and store cryptocurrency.

While ETHE has experienced significant outflows, Ether ETFs elsewhere are showing different trends. The Greyscale Ethereum Mini Trust ETF (ETH) reported no inflows, with current net income of $201 million.

The Fidelity Ethereum Fund (FETH) added more than 6 million dollars, registering the most important net income yesterday. This capital inflow brings FETH's total net income to $297 million.

Related: Why Is ETH Lacking Interest Post-Ethereum ETF?

Similarly, the Franklin Ethereum ETF (EZET) also saw positive returns, with just over $1 million in net income in one day, bringing its cumulative net income to $30.6 million.

General variable

In the year At the time of publication on August 3rd, the total net asset value of the SpaceEther ETF is $8.3 billion. The ETF's net asset ratio, which compares the market value of Ether held in ETFs to the total market value of ETH, is currently 2.29%.

Since going public on July 23, accumulated net inflows from SpaceEther FF have reached $511 million.

Meanwhile, on August 1, daily net returns to identify Ether ETFs were positive. ETFs posted net inflows of $26.7 million, led by $89.6 million inflows into BlackRock's iShares Ethereum Trust (ETHA).

ETH is changing hands at $2,987 at press time, down roughly 5.71% since the ETFs launch.

Magazine: Ten years later Ethereum ICO: Blockchain forensics ends the double spending debate