Crypto Blog
Spot Ethereum ETFs began trading in the United States for the first time on July 23, and the initial picture isn’t pretty for the world’s largest crypto asset manager.
If the situation mirrors that when Grayscale converted its Bitcoin Trust to a spot ETF, the fund could lose half of its assets under management. This would equate to around $4.5 billion worth of Ethereum.Investors are pulling out of the fund because they can now realize profits on the large premium gap that it had before becoming spot-based.
To counter this, Grayscale launched an Ethereum Mini Trust with a $1 billion AUM starter and a 0.15% fee. This fund had an inflow of $15 million on its first day of trading,
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