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The second most popular cryptocurrency, Ethereum, has fallen by 7.5% amid a strong outflow of funds from the Grayscale Ethereum Trust ETF (ETHE) spot fund, Coindesk reports.
According to SoSoValue, the net outflow of funds from ETHE amounted to more than $810 million. This is comparable to the Grayscale GBTC fund in the first weeks of trading after the launch of the bitcoin ETF.
At the same time, most other spot ETFs tied to Ethereum continued to grow in terms of inflows. Thus, ETHA from BlackRock showed an inflow of $283.9 million, ETHW from Bitwise - $233.6 million, and FETH from Fidelity - $145.7 million.
In addition, the fall of ether was influenced by the correction of the Nasdaq 100 index following the results of trading on Wednesday, July 24, and, in particular, the decrease in the value of shares of the tech giant Nvidia by more than 6%, which is often followed by the price of ether.
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