As a seasoned crypto investor with over a decade of experience in this wild, ever-evolving digital frontier, I must admit that the recent surge in inflows into BlackRock’s Ethereum ETF has caught my attention. Having witnessed numerous bull and bear cycles, I can confidently say that the $3 billion milestone achieved by ETHA is more than just a statistical achievement – it’s a testament to the growing maturity of the crypto market.
Over the past ten trading periods, the BlackRock Ethereum ETF has experienced significant investments, surpassing the $3 billion mark since its launch. This surge in Ether investments has been driven by a combination of factors: Ethereum’s price rebound to around $4,000 and former President Trump’s favorable stance towards cryptocurrencies. Market experts believe that if this trend persists, Ethereum could potentially reach $15,000 over the next 6 to 8 months.
BlackRock Ethereum ETF Hits New Milestone
For the past ten consecutive days, investments have been flowing into BlackRock’s iShares Ethereum ETF (ETHA), accumulating over $1.3 billion during this period. According to data from Farside Investors, since its launch, total investments in ETHA have surpassed $3.2 billion.
The significant increase in demand indicates a rising curiosity towards Ethereum-backed exchange-traded funds, as they have amassed over $2 billion through inflows since their debut in July. Notably, this growth occurred even with a net withdrawal of approximately $3.5 billion from the Grayscale Ethereum Trust (ETHE) during the same span.
On Thursday, December 12th, the BlackRock Ethereum ETF experienced an additional $202 million being poured in. The Grayscale mini Ether ETF (ETH) came in second with over $73 million inflows on the same day. Meanwhile, Fidelity’s FETH has seen robust inflows totaling approximately $1.4 billion since its launch.
As an analyst, I share the optimism held by the BlackRock management team regarding the potential success of our Ethereum Exchange Traded Fund (ETF). According to Jay Jacobs of BlackRock’s ETF division, we anticipate positive returns from this investment vehicle in the future.
Our understanding of Bitcoin and Ethereum is still quite limited, as only a small portion of our clientele currently holds them. Consequently, we’re primarily concentrating on these two cryptocurrencies rather than creating new Exchange-Traded Funds (ETFs) based on alternative coins.
ETH Price Mega Rally In Making?
On Thursday, the price of ETH surged back to $4,000, but it’s been met with resistance at this point. Currently, Ethereum is being traded 0.74% lower than its previous value, sitting at $3,913 per coin, and has a market cap of approximately $471 billion. Nevertheless, financial analysts remain hopeful about Ethereum, predicting a significant surge in the near future.
If Ethereum’s price maintains above $3,712, it seems likely that Ethereum will end another week with a green candle, as per the analysis by well-known crypto expert VentureFounder. Over the long term, VentureFounder predicts the value of Ethereum could reach an impressive target of $15,937 by May 2025. In the immediate future, the analyst suggests that a sequence of three consecutive green candles might propel Ethereum back to its previous record high of $4,900.
If BlackRock Ethereum ETF inflows persist at their current rate, this trend could potentially result in increased gains for Ethereum. However, before reaching $5,000 and potential new record highs, Ethereum must first surpass its significant resistance level in terms of price.
Read More
- EUR CAD PREDICTION
- EUR MYR PREDICTION
- VANRY PREDICTION. VANRY cryptocurrency
- OKB PREDICTION. OKB cryptocurrency
- POL PREDICTION. POL cryptocurrency
- LUNC PREDICTION. LUNC cryptocurrency
- XRP PREDICTION. XRP cryptocurrency
- GBP RUB PREDICTION
- USD MXN PREDICTION
- USD RUB PREDICTION
2024-12-13 10:38