Ethereum

BlackRock

Ethereum (ETH) linked exchange-traded fund (ETF) weekly inflow turns green for the first time since the launch of the investment products. Ether ETFs inflow recorded an inflow of $104.76 million in the 3rd week of its trading history. 
<a href="https://www.cryptopolitan.com/ethereum-price-prediction/">Ethereum price</a> has seen higher volatility after the debut trading of ETH linked ETFs from July 2024. The second biggest crypto recorded a drop of almost 18% in the last 30 days. Its price dropped straight from the $3,500 zone to $2,200 over this period. 
<h3 id="span-style-font-weight-400-ether-etfs-print-weekly-green-span">Ether ETFs print weekly green</h3> 
As per <a href="https://sosovalue.com/assets/etf/us-eth-spot" rel="nofollow noopener" target="_blank">Sosovalue data</a>, the last week beginning from August 5 to August 9 saw Ether ETFs bagging in an inflow of $104.76 million. BlackRock iShares Ethereum Trust ETF posted a net inflow of $188 million, while, Fidelity’ FETH had a positive flow of $44.65 million in the same period. 
The first week of ETH ETFs trading saw a $341.35 million outflow. The second week of trading posted an outflow of $169.35 million. 
Grayscale Ethereum Trust (ETHE) reported an outflow of $180 million in the last week of trading. ETHE holds a cumulative flow of negative $2.30 billion while players like BlackRock’s ETHA have an inflow of $901 million. 
The launch of nine <a href="https://www.cryptopolitan.com/bitcoin-etf-options-coming-soon/">US spot Bitcoin ETFs</a> in January and the recent arrival of Ether ETFs signaled a massive victory for the crypto industry’s efforts to mainstream digital assets. It was expected that Ether ETFs may not see the same inflows as Bitcoin ETFs. 
<figure id="attachment_566902" aria-describedby="caption-attachment-566902" style="width: 100%" class="wp-caption alignnone">
 <img loading="lazy" decoding="async" class="wp-image-566902 size-full" src="https://www.cryptopolitan.com/wp-content/uploads/2024/08/Eth-etf-inflow.jpg" alt="" width="558" height="220" srcset="https://www.cryptopolitan.com/wp-content/uploads/2024/08/Eth-etf-inflow.jpg 558w, https://www.cryptopolitan.com/wp-content/uploads/2024/08/Eth-etf-inflow-300x118.jpg 300w" sizes="(max-width: 558px) 100vw, 558px">
 <figcaption id="caption-attachment-566902" class="wp-caption-text">
 Source: Sosovalue
 </figcaption>
</figure> 
Ether has suffered a lot in the recent downturn as its price dropped by 18% and 27% in the last 30 days and 60 days, respectively. However, it managed to perform a recovery over the last week. ETH price jumped by around 9% in the past 7 days reflecting the positive momentum going on for the ETFs. 
<h3 id="span-style-font-weight-400-eth-ico-whale-moves-coins-worth-154-million-to-okx-span">Eth ICO whale moves coins worth $154 million to OKX</h3> 
In an <a href="https://x.com/EmberCN/status/1822792621322047522" rel="nofollow" target="_blank">X post</a>, EmberCN reported that a 2015 ETH ICO whale with 1 million Ether moved 48,500 of the coins (approx worth $154 million) to OKX over the past month. The whale still holds 15,600 ETH while this whale address cluster might hold a total of 682,000 ETH, (approx worth $1.756 billion), it added. 
This move might create massive selling pressure on the biggest altcoin. ETH price dropped by more than 4% in the last 24 hours. Ether is trading at an average price of $2,538, at the press time. Its 24 hour trading volume spiked by 66% to stand at $14.84 billion. 
Ethereum network gas fees reportedly reached a 5-year low amid the recent move. Data shows that on August 10, the median gas fee dropped below 2 gwei for the first time in five years.

Ether ETFs weekly inflow turns green, hits $104 million amid price dip

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