news 
Title: BlackRock Dominates Bitcoin and Ethereum ETF Market with Record-Breaking $860 Million Inflows
BlackRock, the world’s largest asset manager, has made a significant impact on the cryptocurrency market by surpassing all expectations in the first month of its Bitcoin and Ethereum ETFs’ launch. The company has witnessed a staggering $860 million inflows into its spot Ethereum ETFs since July, making it the clear leader in the sector.
According to reports, this monumental influx is unprecedented in the history of cryptocurrencies, with an average daily inflow of around $100 million. BlackRock’s dominance in the market highlights the increasing appetite among institutional investors for Bitcoin and Ethereum ETFs, further solidifying its position as a force to be reckoned with in the digital asset space.
It is also worth noting that while the Grayscale Ethereum Trust has seen net outflows of $3.5 billion since July, BlackRock’s funds have attracted a massive sum of money, which could have a significant impact on the price appreciation of ETH and other cryptocurrencies tied to its performance.
In a surprising twist, Geraci, an analyst at IBIT, has expressed amazement at the success of BlackRock’s ETFs, stating that he is “amused by the performance” and doesn’t even know what to say anymore.
Source: u.today
