![US Ethereum ETFs See Continued Outflows Led by Grayscale’s ETHE US Ethereum ETFs See Continued Outflows Led by Grayscale’s ETHE](https://static.news.bitcoin.com/wp-content/uploads/2024/07/jo9000uuuu-768x432.jpg)
Coinbase is serving as a custodian for eight of the nine newly approved Ethereum (ETH) exchange-traded funds (ETFs), according to Brian Armstrong, the exchange’s chief executive. Nine Ethereum ETFs kicked off trading in the US on Tuesday, including products from BlackRock, Fidelity, 21Shares, Invesco, Franklin Templeton, VanEck, and Bitwise, as well as two different funds […]
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Grayscale's costly Ethereum ETF faces competitive pressure, potentially reshaping investor preferences and market dynamics in the crypto ETF space.
The post Grayscale Ethereum ETF sees $484 million in outflows on its first day appeared first on Crypto Briefing.
The approved spot Ether ETF applicants included BlackRock, Fidelity and Grayscale, and are expected to bring billions of dollars into the ecosystem.
Spot Ether (ETH) exchange-traded funds have been given the final approval to begin trading in the United States on July 23.
On July 22, the United States Securities and Exchange Commission approved the final S-1 registration statements necessary for their launch on their respective stock exchanges, including the Nasdaq, New York Stock Exchange and Chicago Board Options Exchange.
The successful spot Ether ETF issuers include BlackRock, Fidelity, 21Shares, Bitwise, Franklin Templeton, VanEck and Invesco Galaxy.
Current GBTC shareholders will receive shares in Grayscale’s new Bitcoin ETF in proportion to what they currently hold in GBTC.
On July 19, crypto asset manager Grayscale announced plans to spin off a portion of its flagship Bitcoin fund, Grayscale Bitcoin Trust (GBTC), into a new exchange-traded fund (ETF).
On July 31, Grayscale will contribute 10% of the spot Bitcoin (BTC) held by GTBC to its new ETF, Grayscale Bitcoin Mini Trust (BTC). The company said the ETF is set to begin trading on the New York Stock Exchange’s (NYSE) Arca exchange pending final regulatory signoff.
Current GBTC shareholders will receive shares in the Mini Trust in direct proportion to the shares they hold in GBTC. As a result of the spinoff, GBTC holders will hold the same amount of spot BTC as before, but across two different funds.