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BlackRock Dominates Spot Ethereum ETFs with Record-Breaking $860 Million Inflows
In a shocking turn of events, BlackRock’s Bitcoin ETH has taken the spot by storm in the Ethereum ETF market, raking in an unprecedented $860 million in inflows. This monumental surge surpasses all previous records and cements BlackRock’s position as the undisputed king of the cryptocurrency ETF space.
Since its launch in July, BlackRock’s Bitcoin ETH has seen a staggering influx of capital, totaling $1.5 billion into spot Ethereum ETFs. While this is an impressive feat on its own, it’s the sheer magnitude of the latest inflows that has left industry experts reeling.
However, despite these historic gains, there is a notable exception to BlackRock’s dominance – Grayscale Ethereum Trust. Unfortunately, this fund has seen net outflows of $3.5 billion, which may potentially slow down the price appreciation of ETH.
It will be interesting to see how the market reacts to this sudden influx of capital and whether it can maintain its momentum in the coming days.
Source: u.today
