As a seasoned crypto investor with over two decades of experience under my belt, I must admit that the recent performance of Fidelity’s Ethereum ETF (FETH) has caught my attention. With inflows of $7.9 million and $14.3 million on Aug. 21 and 22 respectively, it’s clear that Fidelity is setting the pace in this competitive market.
In simple terms, Fidelity Investments, one of America’s top asset management companies with over $4.9 trillion under its management, has made a substantial stride in the Ethereum ETF market. Over the past two days, Fidelity has taken the lead among approved issuers, even surpassing industry giant BlackRock in this particular area.
Other asset managers struggle to keep pace
Based on figures from Farside Investors, it’s worth noting that the Fidelity Ethereum ETF (FETH) saw investments of $7.9 million and $14.3 million on August 21st and 22nd respectively. Interestingly, asset manager BlackRock did not record any inflows during those days. This is a notable shift in investment trends.
On August 21st, aside from Fidelity, only Franklin and Grayscale (Minis) saw money flowing in, with inflows of $1 million and $4.2 million respectively. However, Franklin failed to maintain these positive flows on the following day, while VanEck attracted $1 million and Grayscale (Minis) saw a slight decrease with a net inflow of $3.7 million.
On August 21st and 22nd, the Ethereum Exchange-Traded Fund (ETF) experienced a total net outflow of approximately $18.5 million, which was not enough for Fidelity and the other two asset managers to move the issuers into the ‘green zone’.
Can Fidelity maintain its inflows?
Previously reported by U.Today, BlackRock surpassed $1 billion in inflows faster than other providers, demonstrating strong performance following approval from the U.S. Securities and Exchange Commission. Despite experiencing some periods without revenue, BlackRock’s overall inflow was substantial compared to other asset managers.
It’s yet unclear whether Fidelity can maintain its consistent pattern of generating positive inflows, or if their recent successes were just one-time occurrences.
In the wider world of cryptocurrencies, there’s a lot of excitement among investors about Ethereum’s price trend. Although the Ethereum ETF has been active for just a month, there’s a prevailing optimistic sentiment towards Ethereum (ETH). At the moment of writing, ETH was trading at $2,678.69, marking a 2.43% increase over the past day.
Read More
- SOL PREDICTION. SOL cryptocurrency
- USD ZAR PREDICTION
- BTC PREDICTION. BTC cryptocurrency
- LUNC PREDICTION. LUNC cryptocurrency
- USD PHP PREDICTION
- USD COP PREDICTION
- EUR ILS PREDICTION
- CKB PREDICTION. CKB cryptocurrency
- TAO PREDICTION. TAO cryptocurrency
- REF PREDICTION. REF cryptocurrency
2024-08-23 18:49