BlackRock’s iShares ETFs Explode With Largest BTC, ETH Inflows

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As a seasoned researcher with years of experience in the dynamic world of cryptocurrencies, I find myself continually intrigued by the ever-evolving landscape of Bitcoin and Ethereum ETFs. The latest update from @lookonchain underscores the dominance of BlackRock’s iShares in the market, with its Bitcoin and Ethereum ETFs witnessing the largest inflows compared to other spot Bitcoin and Ethereum ETFs.

On August 21st, account @lookonchain shared an update about Bitcoin and Ethereum ETFs, indicating that during that day and over the previous week, BlackRock’s ETFs experienced the most substantial investments in both Bitcoin and Ethereum.

BlackRock beats rival crypto ETFs in BTC and ETH

On Wednesday, iShares’ Bitcoin ETF managed by BlackRock purchased approximately 933 Bitcoin valued at around $56 million, bringing its total Bitcoin holdings to a staggering $21 billion or 351,454 Bitcoins. In contrast, other spot Bitcoin ETFs recorded no inflows except for Bitwise, Invesco Galaxy, and Grayscale, which experienced outflows of 109 Bitcoin, 214 Bitcoin, and 9 Bitcoin respectively.

Over the past seven days, approximately 2,891 Bitcoin (worth around $176 million) has flowed into the BlackRock Bitcoin ETF, making it the top inflow. Following closely is the Fidelity ETF with an inflow of about 1,071 Bitcoin. On the other hand, Bitwise, Invesco Galaxy, and Grayscale have experienced outflows of 332 BTC, 337 BTC, and 3,361 BTC respectively over this period.

Regarding Ethereum ETFs, BlackRock has been dominating the scene so far this week and experienced significant inflows, particularly on Wednesday. On August 21 alone, BlackRock’s ETHA saw an impressive influx of approximately 10,300 Ether, which is worth over $26.88 million. Currently, the total Ether held by this spot ETF amounts to about 332,723 Ether, equivalent to around $867.74 million in fiat currency.

8/21 Update:

— Lookonchain (@lookonchain) August 21, 2024

Over the past week, ETHA has eaten approximately double the amount compared to something else – around 20,603 Ether. Specifically, Grayscale Ethereum Mini Trust took in 1,885 Ether and Bitwise Ethereum ETF absorbed about 1,435 Ether.

Vitalik Buterin’s tweet fuels brief ETH surge

On Wednesday, the co-founder and face of Ethereum, Canadian-Russian programmer Vitalik Buterin, shared an optimistic tweet about Ethereum. In this post, Buterin acknowledged that he’s been getting a fair amount of criticism lately for what some people see as excessive “philosophical” content in his tweets.

As a researcher, I’ve been finding myself inundated with advice from crypto enthusiasts suggesting that I should focus more on promoting Ethereum and less on my current activities. Consequently, I decided to create an AI-generated image showcasing a bull adorned with a mini whiteboard around its neck, which reads “Ethereum is good.” This visual representation aims to convey the positive sentiment towards Ethereum that many users have shared with me.

Instead of spending too much time pondering philosophical ideas, it’s suggested that I should focus more on creating engaging content about Ethereum, often referred to as “Ethereum bullposting”. Here is a bullish post on Ethereum, crafted using the stable diffusion 3 inpainting technique and further refined in GIMP.

— vitalik.eth (@VitalikButerin) August 21, 2024

Interestingly, this post seemingly sparked an increase in Ethereum’s price; the second-most prevalent cryptocurrency saw a nearly 3% jump, moving from $2,580 to the $2,650 region. This sudden spike was initially followed by a swift drop of approximately 1.77%, then a minor rise of less than 1%. At the moment, Ethereum is being traded at around $2,624.

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2024-08-22 13:54