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Blackrock Crosses $3 Billion in Inflows as Total Net Assets for Ether ETFs Hit $13.7 Billion
In a remarkable display of investor confidence, BlackRock’s ETHA has crossed the $3 billion mark in inflows since its launch in July. This milestone is even more significant considering the Ethereum Spot ETF market as a whole has reached an astonishing total net asset value of $13.7 billion.
BlackRock’s dominance in this space is evident, with ETHA being the largest Ethereum Exchange Traded Fund (ETF) by inflows. The sheer volume of investment flowing into ETHA far surpasses that of its competitors, including Fidelity’s FETH and Grayscale’s ETH, which have recorded $1.37 billion and $606 million in inflows, respectively.
Meanwhile, Bitwise’s ETHW has seen a more modest $406 million in inflows since launch. Despite the disparity in investment returns between ETF products, it is clear that investors are flocking to Ethereum Spot ETFs as a means of gaining exposure to this rapidly evolving cryptocurrency market.
One notable outlier in this otherwise bullish landscape is Grayscale’s ETHE, which has seen a staggering $3.5 billion outflow since launch. This massive exodus from the product has effectively erased any gains made by other ETFs and serves as a stark reminder that even the most popular investment products can be subject to significant volatility.
Yesterday saw minimal trading activity among Ethereum Spot ETFs, with only two of the nine products recording inflows. Grayscale’s ETHE managed to attract $7.2 million in new capital, while Fidelity’s FETH pulled in $6.9 million. This modest activity brings the total net inflow for the day to a paltry $14.1 million.
The $13.7 billion total net asset value of Ethereum Spot ETFs is an astonishing figure that highlights the growing interest in this space.
Source: http://www.crypto-news.net
