Grayscale allegedly commissioned Flow Traders to sell 5,812 ETH worth $21.75 million two hours ago

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Cointime2024/05/31 10:13

By:Cointime

According to on-chain analyst @ai_9684xtpa, two hours ago, Grayscale allegedly entrusted Flow Traders to sell 5,812 ETH (worth $21.75 million), which may be management fees for the Ethereum Trust Fund. Grayscale charges a management fee of 2.5% per year for ETHE, and based on the current holdings of 2.97 million ETH, it generates an annual income of 74,000 ETH (approximately $280 million). Since July 2023, Grayscale has transferred 34,270 ETH worth $88.22 million to Flow Traders. Based on past operations, the transferred ETH will be gradually recharged into various exchanges in the next few days.

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