Yesterday we experienced another important turning point for the cryptocurrency world. We have witnessed spot Ethereum ETFs being traded in the market. Now cryptocurrencies have become a reality that traditional finance has had to accept. It has now further strengthened its position as an important financial instrument. Let's look at yesterday's numbers together.
First Trading Day of Spot Ethereum ETFs
Yesterday was the first trading day of spot Ethreruem ETFs. Accordingly, the inflow of 106.78 million dollars showed that investors were willing to invest in Ethereum. The only exit yesterday was on the Grayscale side, just like in Bitcoin ETFs. While there was an outflow of $484 million from Grayscale's two spot Ethereum ETFs, ETHE, there was an inflow of $15 million to the other.
There are inflows in all other Spot Ethereum ETFs. This showed that the outflows in Grayscale were absorbed. We see significant inflows into BlackRock and Bitwise. In this context, inflows of 266 million dollars and 204 million dollars were experienced, respectively.
Fidelity's spot Ethereum ETF saw inflows of $71 million, while Franklin saw inflows of $13.21 million, VanEck saw $7.64 million, 21Shares saw $7.47 million and finally Invesco saw inflows of $5.54 million.
Latest Situation in Spot Bitcoin ETFs
Yesterday was a day of outflows in Spot Bitcoin ETFs. Accordingly, the series was broken. The biggest exit was from Bitwise and the figure was $70.32 million. In addition to Ark Invest, which had an outflow of 52 million dollars, there was also an outflow of 27 million dollars from Grayscale.
Although BlackRock saw an inflow of $ 71.94 million yesterday, the figures also closed in minus as other spot Bitcoin ETFs also withdrew zero. In the cryptocurrency market, spot Ethereum ETFs and spot Bitcoin ETFs will now be more sensitive to the market. In this context, the coming days will clearly show where these ETFs will evolve depending on both Bitcoin and Bitcoin price. While Bitcoin, the flagship of cryptocurrencies, is at $65,823 while writing the article, Ethereum, the leader of altcoins, is at $3,440.
