Ethereum ETFs See $98 Million Inflow; Blackrock’s Stake Nears $900 Million
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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.
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.
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.
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