@malleysweetonzzu
After a strong Day 1 with $106.6 million of net inflows overall, spot ether ETFs on Wednesday experienced their first day of net outflows thanks to the $326.9 million that left the preexisting Grayscale product. This brings cumulative two-day outflows for Grayscale's ETHE to $811 million.
These outflows from the Grayscale fund are expected to continue over the near term, as investors switch to cheaper ETF offerings or simply leave the market.
In total, outflows for spot ether ETFs were $133.3 million on Wednesday, according to Farside Investors. The Fidelity Ethereum Fund (FETH) had the strongest day among the spot ether ETFs, with $74.5 million of inflows.
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