Ether ETFs posted a net outflow of $98 million on July 29, marking the fourth consecutive day of bleeding — but analysts predict this trend could reverse soon.
Massive outflows from Grayscale’s recently converted Ether ETF — the Grayscale Ethereum Trust (ETHE) — should subside by the end of this week, causing an upward shift in the price of ETH, according to an analyst.
In a July 30 post to X, Steno Research Senior Analyst Mads Eberhardt said it’s “likely” the massive outflows from Grayscale’s ETHE will subside this week. His comments come as Ether ETFs posted their fourth day of outflows at $98 million.
Since its conversion, ETHE has hemorrhaged over $1.7 billion in outflows. This figure accounts for nearly 18% of the $9 billion initially contained in the ETHE before its conversion to an ETF on July 24.
