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Spot Ethereum ETFs Record No Outflows for the Day, Pulling in $144 Million
In a surprising turn of events, Ethereum ETFs have recorded zero outflows for the day, instead attracting a staggering $144 million. This impressive influx of funds is a significant increase from yesterday’s $51 million, and marks a notable shift in investor sentiment towards the cryptocurrency.
The data, provided by Farside Investors UK, reveals that Blackrock’s ETHA led the charge, pulling in an astonishing $134 million. Grayscale’s ETH and Fidelity’s FETH followed suit, bringing in $4.5 million and $3.9 million respectively. Meanwhile, Franklin EZET trailed behind, recording a relatively modest inflow of $1.5 million.
It is worth noting that the cumulative total net inflow for the 9 spot Ethereum ETFs now stands at a substantial $2.46 billion as of yesterday’s closing hours, according to SosoValue Data. Furthermore, the total value traded for these ETFs has reached an impressive $664.87 million at the current time.
In other news, the price of Ethereum itself has taken a slight dip, falling by 2.2% over the past 24 hours and reaching a low of $3,815 before rebounding to its current level of $3,885. While this decline may be concerning for some investors, it is important to remember that Ethereum remains the second-largest cryptocurrency by market capitalization and continues to serve as a popular platform for decentralized application development.
Despite recent criticisms surrounding the Ethereum ecosystem’s lag in price appreciation, which has prevented it from surpassing its all-time high of $4,878, Vitalik Buterin, one of Ethereum’s co-founders, has vehemently denied rumors that he is selling his personal holdings to fund his own endeavors. In a statement, he clarified that his on-chain transactions are actually used to support humanitarian initiatives.
As the cryptocurrency market continues to evolve and mature, it will be interesting to see how these recent trends in investor sentiment translate into future price action for Ethereum and other assets.
Source: www.crypto-news.net
