As a seasoned analyst with years of experience in the financial market under my belt, I find the recent trends in cryptocurrency exchange-traded funds (ETFs) particularly intriguing. The inflows into BlackRock’s Ethereum ETF and the outflows from Bitcoin ETFs are a clear testament to the shifting tides within the crypto space.
Based on information from SoSoValue, it’s reported that an Ethereum (ETH) exchange-traded fund handled by BlackRock experienced approximately $44 million in investments on Tuesday.
The iShares Ethereum Trust ETF (ETHA) now boasts $3.65 billion in net assets.
For comparison, iShares Bitcoin Trust ETF (IBIT) recorded substantial outflows of $188 million.
On Tuesday, a significant amount of money, totaling approximately $338 million, was withdrawn from Bitcoin Exchange-Traded Funds (ETFs). Specifically, Fidelity Wise Origin Bitcoin Fund recorded an outflow of about $83.16 million, while ARK 21Shares Bitcoin ETF experienced an outflow of around $75 million.
The only Bitcoin ETF, known as BITB, is experiencing positive inflows totaling around $8.5 million. Similarly, the company’s Ethereum product is showing growth with approximately $6 million in inflows.
Hunter Horsley, the CEO of Bitwise, remains thankful to the investors who trust them with their investments in this field. He’s also looking forward to the journey that lies ahead.
Of course, one should not miss the forest for the trees when analyzing the most recent ETF data. Despite the recent underperformance, BlackRock’s spot Bitcoin ETF is still tremendously successful product, which is likely to be viewed as the biggest cryptocurrency story of the year. Overall, IBIT has attracted nearly $54 billion in net assets in less than a year.
According to a report from U.Today, Bitwise anticipates that the amount of money flowing into Bitcoin ETFs this year may surpass the total inflows seen in 2024.
Recently, Bitcoin ETFs surpassed Satoshi by the total amount of Bitcoin held on exchanges.
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2024-12-25 11:17