Spot Ethereum Exchange Traded Funds (ETFs) in the United States saw an inflow of $98 million after trading hours yesterday. Blackrock’s ETHA has amassed nearly $900 million in total since its first day of trading.
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The crypto market is recovering from a severe crash on Monday that caused many top crypto assets to drop significantly. Bitcoin fell below $50,000 for the first time since February, and Ethereum fell to a price level last seen in January. Despite the crash, the Ethereum and Bitcoin ETFs have performed modestly.
Ethereum ETFs Inflow Analysis: Blackrock Leads the Pack
According to data from Farside Investors UK, Blackrock’s ETHA led the inflow for the day, logging $109.9 million. Fidelity’s FETH followed with an inflow of $22.5 million, while Grayscale’s Mini Trust recorded an inflow of $4.7 million. The smallest inflow was by Franklin Templeton’s EZET, which saw $1.0 million.
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Despite the inflows, there were significant outflows from Grayscale’s ETHE, with $39.7 million leaving the fund. Blackrock’s ETHA now holds a total position of $869.8 million, just under $900 million, making it the largest Ethereum ETF product in terms of inflow. This is notable as Blackrock’s Bitcoin IBIT also leads in inflow among the 12 Bitcoin ETFs.
Spot Bitcoin ETFs Experience Significant Outflows
Spot Bitcoin ETFs in the United States recorded a net outflow of $148.6 million, ending the trading day on a deficit.
According to data from Farside Investors, Fidelity’s FBTC led the outflows with $64.5 million leaving the fund. Grayscale’s GBTC followed, experiencing a net outflow of $32.2 million. Ark Invest and 21Shares’ ARKB logged $28.88 million in net outflows, while Franklin Templeton’s Bitcoin Fund lost $23 million on Tuesday.
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Interestingly, Blackrock’s IBIT, the largest ETF by volume of inflow, recorded zero activity yesterday along with seven other ETF products. Since their launch in January, the 12 Bitcoin ETFs have accumulated a total net inflow of $17.12 billion.
Bitcoin and Ethereum Show Signs of Recovery After Market Crash
Bitcoin and Ethereum have both experienced slight recoveries following the Monday market crash.
At the time of this report, Bitcoin is trading at $57,496, having surged by 4.4% in the last 24 hours. The cryptocurrency reached a maximum price of $57,607 and a minimum price of $54,577 during this period.
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Similarly, Ethereum is trading at $2,530, reflecting a 3.1% increase in the last 24 hours. The cryptocurrency recorded a maximum price of $2,546 and a minimum price of $2,423
Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.
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