BlackRock Ethereum ETF Records US$60.3 Million Inflow
BlackRock, a leading investment firm, reported the highest daily inflow into the iShares Ethereum Trust (ETHA), BlackRock's Ethereum ETF. The investment flow is the highest in the last 94 days since August 6, reaching US$60.3 million.
Not without reason, this large inflow occurred when the price of Ether (ETH) approached US$3,000. Moreover, according to CoinMarketCap data, the price of ETH on Saturday afternoon (09/11) showed that it had broken through US$3,000.
The significant inflow into ETHA emerged just days after Donald Trump was declared the 47th President-elect of the United States. This victory is considered to have increased the confidence of crypto traders in the United States.
In addition to ETHA, several other Ethereum ETFs also recorded quite high inflows, such as the Fidelity Ethereum Fund (FETH) with US$18.4 million, the VanEck Ethereum Fund (ETHV) with US$4.3 million, and the Bitwise Ethereum ETF (ETHW) with US$3.4 million.$BTC $ETH
Republican presidential candidate Donald Trump has announced plans to create a government efficiency commission led by X CEO Elon Musk. The creation of the agency is a policy idea pushed by Elon Musk to Trump.
"I will create a government efficiency commission tasked with conducting a comprehensive financial and performance audit of the entire federal government. I will also make recommendations for drastic reforms," Trump said at a campaign event for the Economic Club of New York on Thursday (05/09).
In response, Musk said he would be willing to fill the position if Trump is elected president in the November election.
"I look forward to contributing to the United States if the opportunity presents itself. I will do so even without pay, without ownership, and without recognition," Musk said on his personal X account. #Write2Earn! #Binance $BTC
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BREAKING NEWS Analysis from Bloomberg believes that the etherium ETF is progressing from 25℅ to 75℅. Will the etherium ETF be approved soon? #ETHETFS might be approved What steps should we take as investors? 1. This news might open up the opportunity for many investors to buy etherium, so it's a green light for you 2. Is this just an anchor to stop the rival of etherium itself, namely $SOL The conclusion from this news remains #DYIOR to determine your investment steps and always use money that is not risky and always DCA to make coin purchases don't forget to follow and like $ETH
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The operator of the Grayscale Bitcoin Trust had revenue of $156 million, little changed from the fourth quarter, according to a shareholder letter from its parent company, Digital Currency Group. Grayscale has seen outflows of about $17.4 billion since the ETF was converted from the trust in January, according to data compiled by Bloomberg, as some investors appear to have shifted assets from GBTC to new, lower-cost funds offered by firms such as BlackRock and Fidelity. GBTC charges a management fee of 1.5%, while most of its peers charge less than 0.3%.
“While Grayscale expects outflows as competition increases under the ETF wrapper, Q1 earnings attributable to GBTC remain above our expectations,” the letter said.
The company charges a 2% sponsorship fee before the trust is converted. Grayscale also said the higher average price of Bitcoin and Ether led to flat income, as well as lower assets under management.
All US spot Bitcoin ETFs have totaled net inflows of more than $11 billion year to date, but demand has recently slumped amid tightening financial conditions in the US, where the Federal Reserve is facing the challenge of containing stiff inflation.
DCG's revenue in the first quarter rose 11% to $229 million compared to the fourth quarter, driven largely by higher asset prices, according to the letter. Revenue growth lagged behind Bitcoin price appreciation, which increased more than 60% in the period. The DCG letter cited “lower GBTC sponsorship and redemption fees, and mining revenue at Foundry remained flat.”
Revenue at DCG's mining subsidiary Foundry increased 35% sequentially, according to the letter, driven by staking revenue and equipment sales. Sales at Luno's subsidiary, the crypto exchange, increased 46% quarter-on-quarter, driven by a surge in trading volume.
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