Crypto: Ethereum ETFs Drop for 2 Consecutive Days! What's Happening?.

The eight newly launched Ethereum ETFs mostly recorded net inflows. The Fidelity Ethereum Fund (FETH) and the Bitwise Ethereum ETF (BITW) led the way with net inflows of $74.5 million and $29.6 million respectively. However, these inflows were not enough to offset the massive outflows from the Grayscale Ethereum Trust.The conversion of the Grayscale Ethereum Trust into a spot ETF allowed crypto investors to sell their shares more easily, leading to a wave of sales. In just two days, the Grayscale Ethereum Trust recorded outflows of $811 million, more than 9% of its holdings