On Friday, August 23, fresh data from @lookonchain on X reveals a significant shift in the Ethereum ETF landscape, showcasing Fidelity’s recent triumph over BlackRock. This update is particularly notable as it sheds light on the evolving dynamics of the spot Bitcoin and Ethereum ETF markets.
According to the latest figures, Fidelity has emerged as a dominant force in Ethereum ETF inflows, surpassing BlackRock in a dramatic turnaround. The data indicates that the netflow into nine spot Ethereum ETFs was negative, with a total of -4,972 ETH on the day. This downturn is primarily attributed to Grayscale’s Ethereum Trust, which experienced substantial outflows amounting to 11,885 ETH, equivalent to $31.61 million. Currently, Grayscale’s Ethereum Trust holds a substantial reserve of 1,830,266 ETH, valued at nearly $5 billion. Over the past week, Grayscale’s ETF has seen a significant decline, losing 61,901 ETH.
In stark contrast, Fidelity’s Ethereum Fund has seen a robust influx of 5,500 ETH, increasing its total by 11,250 ETH over the past week. This impressive performance highlights Fidelity’s growing influence in the Ethereum ETF space.
While Fidelity gains ground, BlackRock’s iShares Ethereum Trust has struggled, with no new inflows reported for this period. The only exceptions to this trend are the Grayscale Ethereum Mini Trust, which saw a modest increase of 1,602 ETH, and the Invesco Galaxy Ethereum ETF, which experienced a minor outflow of 189 ETH. Despite these challenges, BlackRock’s iShares Ethereum Trust has accumulated the most substantial Ethereum inflows over the past week, receiving 14,240 ETH.
Also Read: Ethereum Foundation’s $94M ETH Transfer Sparks Market Buzz Amid Fed Speculations And Options Expiry
In the spot Bitcoin ETF arena, BlackRock’s iShares has maintained its competitive edge, attracting 1,252 BTC and leading the sector.
As the Ethereum ETF market continues to evolve, these latest figures underscore the shifting dynamics between major players like Fidelity and BlackRock. Investors and market analysts will undoubtedly keep a close eye on these developments, as they could signal broader trends in ETF investment strategies and market positioning.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.
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