Bitcoin

BLACK ROCK

BlackRock’s spot Ether ETF received $109.9 million in new investments on August 6. Since its launch on July 23, the total investments in the fund have reached $869.8 million.Farside Investors reported that August 6 was the third biggest day for inflows into the iShares Ethereum Trust. Investors took advantage of Ether’s 18% price drop to $2,520 on August 5.<img src="https://academy-public.coinmarketcap.com/optimized-uploads/06997d3f5b28448091a1551d02569304.png" /><h3 id="blackrock-s-spot-ether-etf-performance-in-2024">BlackRock’s Spot Ether ETF Performance in 2024</h3>The $870 million in inflows places BlackRock’s spot Ether ETF among the top six best-performing ETFs launched in 2024, according to Nate Geraci, President of The ETF Store. Four of the other top performers are spot Bitcoin ETFs, including BlackRock’s IBIT.BlackRock’s ETHA attracted $47.1 million on the crypto industry’s “Black Monday,” a day when over $600 million in leveraged long positions were wiped out. Despite the massive market fall, the combined inflows for ETHA on August 5 and 6 alone put it in the top 10% of ETFs launched in 2024, Geraci noted.Notably, all of this success has been achieved without the <a href="https://cryptosheadlines.com/ethereum-eth-aims-for-4000-amid-improved-odds-for-spot-ether-etf/" rel="noopener noreferrer nofollow">spot Ether ETF</a> issuers offering staking returns and options trading.<img src="https://academy-public.coinmarketcap.com/optimized-uploads/33e843913a1e4abf8eef6ef776155ecd.png" />Source: <a href="https://x.com/NateGeraci/status/1820978673136156981" rel="noopener noreferrer nofollow">X</a>On August 6, spot <a href="https://cryptosheadlines.com/cryptosheadlines-9-may-24-hong-kong-ether-etfs-bitcoin-at-63k-64k-and-more/" rel="noopener noreferrer nofollow">Ether ETFs</a> saw a combined inflow of $98.4 million, marking their best day since the launch on July 23.<img src="https://academy-public.coinmarketcap.com/optimized-uploads/06997d3f5b28448091a1551d02569304.png" /><h3 id="performance-of-other-spot-ethereum-etfs-and-market-trends">Performance of Other Spot Ethereum ETFs and Market Trends</h3>On August 6, Fidelity’s spot Ethereum ETF saw the second-largest inflow with $22.5 million. The Grayscale Ethereum Mini Trust and Franklin Ethereum ETF followed with $4.7 million and $1 million in inflows, respectively.“TradFi slurping up that ETH,” commented Anthony Sassano, host of the Ethereum show The Daily Gwei.<a href="https://cryptosheadlines.com/major-drops-hit-dogecoin-and-top-meme-coins/" rel="noopener noreferrer nofollow">Also Read: Major Drops Hit Dogecoin and Top Meme Coins</a>In contrast, Grayscale’s higher fee Ethereum product, ETHE, experienced an outflow of $39.7 million.<img src="https://academy-public.coinmarketcap.com/optimized-uploads/80cbffb97d1943be90b11b762cfe3bdf.png" />Spot Ether ETF flows since Aug. 1. Source: Farside InvestorsDespite ETHA’s strong start, spot Ether ETFs have seen a combined $473.9 million in outflows when considering the $2.2 billion that has left Grayscale’s ETHE.Ether has partially recovered from its low of $2,197 on August 5, rising 13.5% to $2,494, according to CoinGecko data.<img src="https://academy-public.coinmarketcap.com/optimized-uploads/ace9380a126e492da96c25cae97d1707.png" />Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.Join Cryptos Headlines <a href="https://linktr.ee/cryptosheadlines.com" rel="noopener noreferrer nofollow">Community</a>Follow Cryptos Headlines on <a href="https://news.google.com/publications/CAAqBwgKMLz3-wowvuzoAg" rel="noopener noreferrer nofollow">Google News</a>

BlackRock’s ETHA Approaches $900M in Inflows After 11 Days

Table of Contents

CryptosHeadlines.com

Other articles published on Aug 7, 2024

Senator Lummis Proposes Bitcoin as Solution to America’s $35 Trillion Debt Crisis

The Moves Made by Institutional Investors During the Sharp Fall in Bitcoin Has Been Revealed! "Th...

Investors Drive Injective’s Price Recovery

CoinDCX’s $6M Investor Protection Fund Post $230M WazirX Hack

Hong Kong’s digital bank Mox ventures into Bitcoin and Ethereum ETFs

How to Make Money While Crypto Is Down: Immutable X and the Top Meme Coin Presale You Can’t Miss

Join our free newsletter for daily crypto updates!