Ether ETFs Top $1 Billion in Inflows for the First Time
Main Idea
Ethereum exchange-traded funds (ETFs) surpassed $1 billion in one-day inflows for the first time, with BlackRock's iShares Ethereum Trust ETF leading the inflows, while Bitcoin ETFs saw modest inflows in comparison.
Key Points
1. Ethereum ETFs recorded over $1 billion in one-day inflows, with BlackRock's iShares Ethereum Trust ETF (ETHA) contributing $640 million and Fidelity Ethereum Fund (FETH) also performing strongly.
2. Total net assets of Ethereum ETFs reached $25.71 billion, representing nearly 5% of Ethereum's total market capitalization.
3. Bitcoin ETFs saw significantly lower inflows of $178.15 million, with BlackRock's iShares Bitcoin Trust (IBIT) logging $138 million and Fidelity Wise Origin Bitcoin Fund (FBTC) recording only $13 million.
4. ETH/BTC surged past 0.036 BTC, its highest level since January, with a 55% increase over the past two months.
5. Ethereum's price approached its all-time high, trading at $4,293 at the time of reporting.
Description
Ethereum exchange-traded funds are on a roll with record-breaking inflows. Will this trend continue?
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