Ethena's USDe Outpaces BlackRock’s Bitcoin, Ether ETFs With $3.1B Inflow Surge
Main Idea
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Description
Ethena’s synthetic stablecoin, USDe, has crossed $8.4 billion in supply, adding more than $3.14 billion over 20 days in a surge that outpaced flows into BlackRock’s (BLK) flagship bitcoin and ether exchange-traded funds. According to on-chain data curated by the Ethena community, the supply increase since July 17 is the fastest period of growth since the protocol's inception in February 2024. Inflow into the yield-bearing stablecoin exceeds the $2.75 billion added to BlackRock’s ether ETF (ETHA)...
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