As a seasoned crypto investor with over a decade of experience in this wild and unpredictable market, I find myself constantly monitoring the latest developments and trends to stay ahead of the game. The recent report by @lookonchain on the X social media network about spot Bitcoin and Ethereum ETFs has piqued my interest.
On the X social media platform, the analytics account @lookonchain recently shared new information, providing a current status report about Bitcoin and Ethereum Exchange-Traded Funds (ETFs) as of Friday, August 23.
As a crypto investor, it was clear that on that particular day, my investments with Fidelity outperformed those with BlackRock when it came to Ethereum inflows. In simpler terms, more Ethereum seemed to be flowing into Fidelity than BlackRock that day.
BlackRock loses leadership to Fidelity
On Friday, it was reported by Lookonchain that nine Ethereum ETFs experienced a net outflow of approximately 4,972 Ether. This negative flow can be attributed to significant outflows from Grayscale’s Ethereum Trust, which amounted to about 11,885 Ether, equivalent to around $31.61 million. At present, this ETF fund holds a substantial amount of Ethereum, totaling approximately 1,830,266 Ether, valued at nearly $5 billion. Over the past week, Grayscale has seen a total outflow of about 61,901 Ether.
Regarding incoming deposits, the Fidelity Ethereum Fund experienced the highest amount last week – receiving approximately 5,500 Ether, which in turn boosted its holdings by around 11,250 Ether.
Aug 23 Personal Update:
— Lookonchain (@lookonchain) August 23, 2024
During this period, BlackRock’s iShares Ethereum Trust, along with other Ethereum ETFs, experienced no new investments. However, there were exceptions: Grayscale Ethereum Mini Trust saw an inflow of approximately 1,602 Ether, while Invesco Galaxy Ethereum ETF experienced a slight outflow of around 189 Ether.
Despite this, it’s been noted that iShares by BlackRock has seen the highest Ethereum deposits in recent days, with approximately 14,240 Ether being placed in their secure offline storage.
As for spot Bitcoin ETFs, iShares here beat the rest of the spot ETF cohort, sucking in 1,252 BTC.
Read More
- ENA PREDICTION. ENA cryptocurrency
- SOL PREDICTION. SOL cryptocurrency
- USD PHP PREDICTION
- BTC PREDICTION. BTC cryptocurrency
- SHIB PREDICTION. SHIB cryptocurrency
- LUNC PREDICTION. LUNC cryptocurrency
- Red Dead Redemption: Undead Nightmare – Where To Find Sasquatch
- USD COP PREDICTION
- USD ZAR PREDICTION
- EUR NZD PREDICTION
2024-08-24 12:05