The ETHE outflows from Grayscale are distorting the perspective of inflows from other issuers.
In just 5 trading days, Blackrock's $ETHA accumulated more ETH (151,822) than there is on ZkSync (141,837) per Arkham)
As we covered in our ETH ETF piece, we noted that we believe these ETFs will serve as significant structural supply sinks.
We believe these flows are significant - at this rate, by EOY it wouldn't be surprising to see $ETHA hold more ETH than most L2s and even most exchanges.
_____________________________________________________
Disclaimer:
The information provided by Kairos Research, including but not limited to research, analysis, data, or other content, is offered solely for informational purposes and does not constitute investment advice, financial advice, trading advice, or any other type of advice. Kairos Research does not recommend the purchase, sale, or holding of any cryptocurrency or other investment.
In just 5 trading days, Blackrock's $ETHA accumulated more ETH (151,822) than there is on ZkSync (141,837) per Arkham)
As we covered in our ETH ETF piece, we noted that we believe these ETFs will serve as significant structural supply sinks.
We believe these flows are significant - at this rate, by EOY it wouldn't be surprising to see $ETHA hold more ETH than most L2s and even most exchanges.
_____________________________________________________
Disclaimer:
The information provided by Kairos Research, including but not limited to research, analysis, data, or other content, is offered solely for informational purposes and does not constitute investment advice, financial advice, trading advice, or any other type of advice. Kairos Research does not recommend the purchase, sale, or holding of any cryptocurrency or other investment.
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