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Spot Ethereum ETFs Record No Outflows for the Day, Pulling in a Notable $144 Million
The recent performance of Ethereum-based exchange-traded funds (ETFs) has been nothing short of impressive. According to the latest data, spot Ethereum ETFs have recorded no outflows for the day, instead pulling in a substantial $144 million.
This influx of capital is a significant positive development for the crypto market and underscores the growing confidence investors are placing in this asset class. The fact that no outflows were recorded is particularly noteworthy, as it suggests that investors are not only willing to invest but also remain committed to their positions.
Breaking down the data further, Blackrock’s ETHA led the pack by recording the highest inflow for the day at a staggering $134 million. Grayscale’s ETH and Fidelity’s FETH followed closely behind, with respective inflows of $4.5 million and $3.9 million. Franklin EZET brought up the rear with an inflow of $1.5 million.
It is also worth noting that the cumulative total net inflow for the 9-spot Ethereum ETFs now stands at a remarkable $2.46 billion as of yesterday’s closing hours, according to SosoValue Data. The total value traded for these ETFs has reached a staggering $664.87 million.
In other news, Ethereum’s price is currently trading at $3,885 after experiencing a 2.2% decline in the past 24 hours. This represents a new low for the asset, with its maximum price reaching $3,980 and minimum price dipping to $3,815. It is worth noting that Ethereum remains the second-largest crypto asset by market capitalization and one of the most popular blockchains for building decentralized applications and other products.
Despite recent criticism from industry voices regarding Ethereum’s perceived lack of progress in terms of its price, it remains a widely-used platform for DeFi projects and other activities. In related news, Ethereum co-founder Vitalik Buterin has refuted rumors that he is selling his own ETH for personal gain, stating that any on-chain transactions are solely used to fund humanitarian efforts.
In related news, the cryptocurrency market continues to see significant interest from investors as evidenced by this latest influx of capital into the ETFs.
Source: www.crypto-news.net
