U.S. Spot Ether ETFs Hit $1B Daily Inflow for First Time
Main Idea
U.S.-listed spot ether ETFs achieved a record $1 billion in daily inflows for the first time, led by BlackRock's ETHA and Fidelity's FETH, amid rising ether prices and favorable market conditions.
Key Points
1. U.S. spot ether ETFs surpassed $1 billion in daily inflows on Monday, exceeding the previous record of $726.74 million from July 17.
2. BlackRock's ETHA led with inflows of nearly $640 million, while Fidelity's FETH followed with $276.9 million.
3. Cumulative inflows into ether ETFs reached $10.83 billion, with total assets valued at $25.71 billion, representing 4.77% of ether's market.
4. Ether's price rose to $4,358, its highest since December 2021, driven by expectations of a Federal Reserve interest rate cut and the SEC dropping its lawsuit against Ripple.
Description
U.S.-listed ether (ETH) exchange-traded funds (ETFs) surpassed $1 billion in daily inflows for the first time on Monday as the second-largest cryptocurrency hit its highest price for over three and a half years. The nine ETFs comfortably surpassed the previous daily high of $726.74 million from July 17, according to data tracked by SoSoValue . BlackRock's (BLK) ETHA led the way, registering inflows of just under $640 million, while Fidelity's FETH was a rather distant second with $276.9 million....
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