ETH Hits $2,750 as Grayscale's ETHE Sees Outflows Amid Upgrade Boost

Ethereum has surpassed the $2,750 price mark, and many are attributing this to the recent upgrade. The network activated the Pectra upgrade on May 7, 2025, which combined changes from Prague and Electra specifications.

The upgrade focused on increasing capacity and speed to help Ethereum compete with alternatives. Key features include increased target blob counts, improved gas efficiency, and a new system contract for storing block hashes.

Grayscale's Ethereum Trust (ETHE) has seen significant outflows since its launch in July 2024. With an expense ratio of 2.50%, ETHE is now at a -0.00% discount to its net asset value, down from a -5.7% discount in May 2024.

The Grayscale Ethereum Mini Trust (ETH) offers a lower-cost alternative with a 0.15% expense ratio. The $400 million rotation has highlighted the choice between spot prices and Grayscale's products, making ETH a more attractive option for long-term holders.