Key Notes
- Bitcoin ETFs saw $88.2 million in inflows, far behind Ethereum ETFs, underscoring a significant shift of capital.BlackRock’s ETHA now manages over $16 billion AUM and holds 3.775 million ETH.
- ETH price gained 4.5% on Tuesday, rebounding from last week’s dip and consolidating above $4,600.
World’s largest asset manager BlackRock led the $450 million inflows registered across all US Ethereum ETF issuers on August 26.
Inflows into Ether ETFs have shot up significantly this week, crossing the $13 billion milestone since inception. The ETH
ETH
$4 641
24h volatility:
2.1%
Market cap:
$559.73 B
Vol. 24h:
$35.90 B
price has bounced back once again, gaining 4.5% today, and surging past $4,600 levels.
Spot Ethereum ETF Inflows Surge Again, Led by BlackRock
US-listed Ethereum ETFs recorded $455 million in net inflows on Tuesday, marking their fourth straight day of gains.
Data from SoSoValue shows that both BlackRock and Fidelity led the surge, with ETHA adding $323 million and FETH bringing in $85.5 million. Grayscale’s ETHE and its Mini Ethereum Trust also reported positive inflows.
Spot Ethereum ETF inflows are on the rise. | Source: SoSoValue
Amid the ongoing development, BlackRock iShares Ethereum Trust (ETHA) is hitting new records with $16.5 billion in assets under management.
The asset manager purchased an additional 71,037 ETH, valued at $323.08 million, with $2 billion in trading volume on August 26. This marks the fourth consecutive day of inflows for the fund, bringing its cumulative total to $984 million.
The BlackRock Ethereum ETF now holds a total of 3.775 million of Ethereum, with more than 2million ETH accumulated just over the past two months.
On Tuesday, the ETHA share price surged another 4%, closing at the high of $34.82. Also, the share price is up by over 100% in the last six months, highlighting strong demand for the BlackRock fund.
Meanwhile, Bitcoin ETFs recorded $88.2 million in total daily inflows across six funds, continuing a trend where Ether ETFs are outpacing their Bitcoin
BTC
$112 002
24h volatility:
1.6%
Market cap:
$2.23 T
Vol. 24h:
$37.68 B
counterparts.
On Monday, inflows into Ethereum ETFs were more than double those of spot Bitcoin ETFs, signaling a “significant rotational shift” from Bitcoin to Ethereum.
ETH Price Rises 4% Above $4,600
ETH price is once again showing strength after a pullback to $4,300 last week. Since then, Ethereum has regained 7% and is currently trading above $4,600 levels.
Analyst Daan Crypto Trades noted that ETH price is maintaining its diagonal support while consolidating in the current price range. Key levels to monitor include the 2021 all-time high near $4,900 and local support between $4,000 and $4,100.
Price action within this range is expected to remain volatile until a clear breakout direction emerges.
ETH Treasury firms continue to purchase in big numbers. Bitmine Technologies (NYSE: BMNR) purchased nearly 200,000 ETH over the past week.
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Bhushan is a FinTech enthusiast and holds a good flair in understanding financial markets. His interest in economics and finance draw his attention towards the new emerging Blockchain Technology and Cryptocurrency markets. He is continuously in a learning process and keeps himself motivated by sharing his acquired knowledge. In free time he reads thriller fictions novels and sometimes explore his culinary skills.
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Source: https://www.coinspeaker.com/blackrock-leads-450-million-ethereum-etf-inflows/
