Ethereum

Solana

Spot

<a href="https://bitcoinworld.co.in/bitwise-cio-teases-more-crypto-etfs-after-ethereum-success-solana-xrp-next/" title="Bitwise CIO Teases More Crypto ETFs After Ethereum Success, Solana &amp; XRP Next?" rel="noopener noreferrer nofollow"></a>
<a href="https://bitwiseinvestments.com" rel="noopener noreferrer nofollow">Bitwise</a> CIO Matt Hougan predicted that the market will see other crypto ETF debut soon as Ethereum ETFs marked a successful launch.
On July 23, as Spot Ethereum ETFs debuted, Bitwise Asset Management’s Chief Investment Officer, Matt Hougan, expressed optimism about the future of crypto exchange-traded funds (ETFs).&nbsp;
Hougan highlighted the remarkable reception of the newly launched Ether ETFs. Moreover, he believes that this has set the stage for further crypto ETF developments, including Solana (SOL) ETF.
<h3 id="span-style-font-weight-400-bitwise-cio-on-ethereum-etf-performance-span">Bitwise CIO On Ethereum ETF Performance</h3>
Hougan noted that the Ether ETFs, including Bitwise’s own ETH ETF (ETHW), exceeded expectations.&nbsp;
Moreover, ETHW alone seeing over $200 million in inflows on the first day. “To be honest, it’s exceeded my expectations through lunchtime,” Hougan remarked in a Bloomberg interview.
He added, “We had about half a billion dollars traded in these new ETFs. By comparison, the average ETF trades about a million dollars on its launch day.”&nbsp;
This substantial trading volume positions the Ethereum ETFs as some of the most successful ETF launches in history, second only to Bitcoin ETFs.
Moreover, the success of Ether ETFs has significant implications for the broader crypto market. Hougan suggested that the approval of these ETFs signals a new era for crypto investment.&nbsp;
“Long term, as we look into 2025, we’ve entered the ETF era of crypto,” he said. “We’re going to see ETFs on multiple crypto assets; we’re going to see index-based ETFs.”
Furthermore, he spotlighted the Solana ETF filings by VanEck and 21Shares were already in. This increases the chances of other altcoins also finding their place in the ETF market.&nbsp;
Other experts also weighed in bullish narratives as Spot Ethereum ETFs bagged robust inflows on day 1.
<h3 id="span-style-font-weight-400-eth-etf-day-1-inflows-span">ETH ETF Day 1 Inflows</h3>
On the first day of launch, BlackRock’s ETH ETF (ETHA) led with $265 million in total inflows, becoming the market leader among its peers.&nbsp;
Meanwhile, Fidelity’s Ether ETF (FETH) recorded over $70 million in inflows, and other players like Invesco, 21Shares, VanEck, and Franklin saw inflows between $5-$15 million.
However, Grayscale’s ETHE fund faced significant outflows, totaling $484 million. These negative flows accounted for a staggering 5% of its $10 billion in assets under management.&nbsp;
This outflow occurred just a day after Grayscale transferred $1 billion to its Ethereum Mini-Trust to provide seed capital for the launch event.

Bitwise CIO Teases More Crypto ETFs After Ethereum Success, Solana & XRP Next?

Innholdsfortegnelse

ItsBitcoinWorld

Andre artikler publisert på 24. juli 2024

Altcoins on the Rise: Which Ones Are Set to Dominate the Market?

InvestiRay Improves the Quality of Services Through Diversity

Vitalik Buterin Impressed by This New Research Paper on Ethereum, Why?

Shiba Inu Nears Key Resistance: Is a Breakout Imminent?

SHIB Burns Soar out of Red in Single Hour, With Massive SHIB Lump Scorched

How Will US Economic Data Affect Rates?

Bli med på vårt gratis nyhetsbrev for daglige kryptooppdateringer!