Investors Pull Funds from Crypto ETFs
US-listed Bitcoin and Ethereum exchange-traded funds (ETFs) witnessed significant outflows on September 5, as investors redeemed shares. Grayscale Investments, a major player in the crypto ETF market, saw its funds bear the brunt of these redemptions.
According to Lookonchain data, the nine US Ethereum ETFs collectively experienced a net outflow of 15,367 ETH, valued at approximately $36.5 million. Grayscale’s Ethereum Trust (ETHE) accounted for the majority of these outflows, with 15,591 ETH redeemed, worth around $37.03 million. Grayscale currently holds 1,785,364 ETH, valued at approximately $4.24 billion.
Meanwhile, the ten US Bitcoin ETFs saw a total net outflow of 720 BTC, equivalent to $49.28 million. Grayscale’s Bitcoin Trust (GBTC) was again the primary target, with 878 Bitcoins redeemed, valued at $49.28 million. Grayscale’s Bitcoin holdings now stand at 224,751 BTC, worth approximately $12.62 billion.
