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Blackrock Crosses $3 Billion in Inflows as Total Net Assets for Ether ETFs Hit $13.7 Billion
In a stunning turn of events, Blackrock’s ETHA Ethereum Exchange Traded Fund (ETF) has reached an astonishing milestone, crossing the $3 billion mark in net inflows since its launch in July. This remarkable feat is all the more impressive considering it surpasses the second-largest Ethereum ETF product by more than double.
Blackrock’s dominance in the cryptocurrency market is not limited to Ethereum alone. The global asset manager also holds the top spot in the Bitcoin ETF category, a testament to its unwavering commitment to the growth and development of digital assets.
It is worth noting that Fidelity’s FETH came in second place with an impressive $1.37 billion in inflows since launch. Other notable mentions include Grayscale’s ETH, which pulled in a respectable $606 million in net inflows, and Bitwise’s ETHW, which recorded a total of $406 million.
On the flip side, it is also important to acknowledge that one particular ETF product has seen significant outflows. Unfortunately for Grayscale’s ETHE, this has resulted in an astonishing $3.5 billion in outflows since launch. This remarkable reversal of fortunes serves as a stark reminder of the volatile nature of the cryptocurrency market.
In other news, yesterday witnessed remarkably minimal trading activity among Ethereum ETFs, with only two products experiencing inflows. Grayscale’s ETHE managed to bring in a modest $7.2 million, while Fidelity’s FETH pulled in $6.9 million. This brings the total net inflow for the day to a paltry $14.1 million.
As of yesterday, the total net assets of the nine Ethereum Spot ETFs have reached an astonishing $13.7 billion.
Source: http://www.crypto-news.net
