Grayscale is the biggest jeet in crypto this cycle. When the Bitcoin ETFs got approved and then launched they dumped Bitcoin, now with the Ethereum ETFs launching they are dumping Ethereum.
Grayscale dumped over 7 billion dollars worth of Bitcoin.
They have upped the ante this time, dumping Ethereum at a faster rate, around 3 times that of their bitcoin dump into a period of lower liquidity summer conditions.
The good news is that we have higher Ethereum ETF inflows. The first 10 days after Bitcoin ETFs launched we saw inflows average around 75 million a day. With the Ethereum ETFs we saw around 106 million dollars of inflows the first day. The institutional demand is there.
After Grayscale gets done jeeting, the pump will resume.
