Ethereum

Richard

Bitcoin

Notable

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/experts-predict-steady-capital-allocation-for-ethereum-etfs/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Experts Predict Steady Capital Allocation for Ethereum ETFs</a><br></p>
<p class="p1" style="text-align: justify">Industry experts do not expect dramatic initial capital allocation for <strong><a href="https://en.coin-turk.com/eth-etf-launch-exceeds-expectations-with-strong-volume/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Ethereum</a> ETFs</strong>, which will instead be shaped by various macroeconomic factors. Despite the excitement around Ethereum, it has not gained any bullish momentum. Instead, altcoin, despite a strong start for spot Ethereum ETFs, is trading near $3,460 with a loss of about 2% in the last 24 hours.</p>
<h2 class="p1" style="text-align: justify" id="what-is-happening-in-the-ethereum-etf-space">What Is Happening in the Ethereum ETF Space?</h2>
<p class="p1" style="text-align: justify">This moderate price movement contrasts with the strong trading activity recorded by new investment vehicles on the first day. However, the resurgence in whale accumulation tells a different story. According to recent <a href="https://newslinker.co/how-does-artificial-intelligence-work/" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="exclude">data shared</a> by <strong>IntoTheBlock</strong>, despite the recent drop in Ethereum’s price, there is a significant trend in Ethereum accumulation. On July 23, major <a href="https://finance.coin-turk.com/" data-wpel-link="exclude" rel="noopener noreferrer nofollow">investors</a> accumulated approximately 112,900 Ethereum worth about $390 million.</p>
<p class="p1" style="text-align: justify">The aggressive accumulation by leading investors shows a strong belief in Ethereum’s long-term value and potential. This accumulation even surpassed the $106 million net inflow observed in spot Ethereum ETFs during the same period.</p>
<p class="p1" style="text-align: justify">Meanwhile, BlackRock’s ETHA fund topped the charts with an inflow of $266.5 million, followed by Bitwise’s strong start with $204 million for its ETHW spot ETF. Fidelity’s FETH fund managed to attract $71 million. On the first day, smaller inflows ranging from $7.5 million to $13 million were recorded by 21 Shares, Invesco, VanEck, and Franklin. Grayscale’s newly converted Ethereum Trust (ETHE) experienced an outflow of $484 million.</p>
<p><img fetchpriority="high" decoding="async" class="aligncenter wp-image-373590" src="https://coin-turk.com/wp-content/uploads/2024/07/itb.png" alt="" width="500" height="328"></p>
<h2 class="p1" style="text-align: justify" id="notable-statement-from-a-famous-figure">Notable Statement from a Famous Figure</h2>
<p class="p1" style="text-align: justify"><strong>Binance</strong> CEO Richard Teng commented on the matter, stating that while a steady capital allocation is expected for these ETF funds, it is unlikely to be dramatic initially and will vary based on various macroeconomic factors:</p>
<blockquote>
 <p class="p1" style="text-align: justify">“However, I believe the potential for exponential growth in ETF liquidity is significant. With SEC approval and listing, these ETF funds can now be invested in by institutions that generally have a long-term investment horizon. This institutional participation can provide a steady and significant capital flow over time.”</p>
</blockquote>
<p class="p1" style="text-align: justify">Teng noted that spot Bitcoin ETFs were extremely well-received on their first trading day and expressed uncertainty about whether Ethereum ETFs would experience the same level of enthusiasm. Nevertheless, the Binance executive added that their launch is expected to significantly boost the entire crypto asset sector.</p>
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on COINTURK NEWS: </span> <a href="https://en.coin-turk.com/experts-predict-steady-capital-allocation-for-ethereum-etfs/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Experts Predict Steady Capital Allocation for Ethereum ETFs</a></h5>

Experts Predict Steady Capital Allocation for Ethereum ETFs

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