Ethereum

2024

BlackRock

<p>A significant reshuffling occurred on the second day of the spot Ethereum ETF launch. On-chain data reveals that the BlackRock iShares Ether ETF received a total of 76,669 ETH from Coinbase Prime, indicating strong institutional interest in BlackRock’s newly introduced Ethereum fund.</p> 
<h2 id="blackrock-ethereum-etf-in-demand">BlackRock Ethereum ETF in Demand</h2> 
<p>Within two days of launch, the BlackRock Ether ETF seems to be hogging all the limelight. On the first day of the <a href="https://coingape.com/spot-ethereum-etf-register-105-million-inflows-first-day-blackrock-leads/" target="_blank" rel="noopener">spot Ethereum ETF</a> launch, BlackRock’s iShares ETF saw a staggering $266 million in inflows. However, the inflows have dropped significantly on the second day with BlackRock managing to attract only $17 million in net. As of now, <a rel="nofollow" href="https://www.blackrock.com/us/individual/products/337614/ishares-ethereum-trust-etf" target="_blank">BlackRock</a> holds a total of 79,699 ETH.</p> 
<blockquote class="twitter-tweet"> 
 <p dir="ltr" lang="en">BlackRock(iShares) Ethereum ETF wallet received 76,669 <a rel="nofollow" href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$ETH</a>($262.4M) from <a rel="nofollow" href="https://twitter.com/hashtag/CoinbasePrime?src=hash&amp;ref_src=twsrc%5Etfw">#CoinbasePrime</a> 10 hours ago.</p> 
 <p>According to <a rel="nofollow" href="https://twitter.com/hashtag/BlackRock?src=hash&amp;ref_src=twsrc%5Etfw">#BlackRock</a>‘s official website, <a rel="nofollow" href="https://twitter.com/hashtag/BlackRock?src=hash&amp;ref_src=twsrc%5Etfw">#BlackRock</a> currently holds 79,699 <a rel="nofollow" href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$ETH</a>($277M).<a rel="nofollow" href="https://t.co/sefS6WTlHz">https://t.co/sefS6WTlHz</a> <a rel="nofollow" href="https://t.co/pvEGrWxvT9">pic.twitter.com/pvEGrWxvT9</a></p> 
 <p>— Lookonchain (@lookonchain) <a rel="nofollow" href="https://twitter.com/lookonchain/status/1816313465935651213?ref_src=twsrc%5Etfw">July 25, 2024</a></p>
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<p>As per the data from Farside Investors, the spot Ethereum ETFs have lost steam seeing a staggering $133 million of outflows on the second day of launch. Thus, it brings the net flow for Ether ETFs into the negative territory.</p> 
<p>Also Read: <a href="https://coingape.com/breaking-hashdex-files-s-1-for-combined-spot-bitcoin-and-ethereum-etf/" target="_blank" rel="noopener">Hashdex Files S-1 For Combined Spot Bitcoin and Ethereum ETF</a></p> 
<p>The Grayscale Ethereum Trust (ETHE), now converted into an ETF, is responsible for most outflows. On Wednesday, July 24, the Grayscale’s ETHE saw net outflows of $386 million taking the two days of outflows to more than $811 million. As a result, the AUM for Grayscale ETHE has now slipped under $8.0 billion. On the other hand, the Grayscale Ethereum mini-Trust saw its inflows surging to $45 million.</p> 
<blockquote class="twitter-tweet"> 
 <p dir="ltr" lang="en">In the past 24 hours, <a rel="nofollow" href="https://twitter.com/hashtag/Grayscale?src=hash&amp;ref_src=twsrc%5Etfw">#Grayscale</a> transferred 140,044 <a rel="nofollow" href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$ETH</a>($485.6M) to <a rel="nofollow" href="https://twitter.com/hashtag/CoinbasePrime?src=hash&amp;ref_src=twsrc%5Etfw">#CoinbasePrime</a>, and received 4,382 <a rel="nofollow" href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$ETH</a>($14.8M) from <a rel="nofollow" href="https://twitter.com/hashtag/CoinbasePrime?src=hash&amp;ref_src=twsrc%5Etfw">#CoinbasePrime</a>, with a net outflow of 135,662 <a rel="nofollow" href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$ETH</a>($470.8M)!</p> 
 <p>According to <a rel="nofollow" href="https://twitter.com/hashtag/Grayscale?src=hash&amp;ref_src=twsrc%5Etfw">#Grayscale</a>‘s website, <a rel="nofollow" href="https://twitter.com/hashtag/Grayscale?src=hash&amp;ref_src=twsrc%5Etfw">#Grayscale</a> currently holds 2,489,075 <a rel="nofollow" href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$ETH</a>($7.9B).… <a rel="nofollow" href="https://t.co/2LYaRinh4h">pic.twitter.com/2LYaRinh4h</a></p> 
 <p>— Lookonchain (@lookonchain) <a rel="nofollow" href="https://twitter.com/lookonchain/status/1816315780398735451?ref_src=twsrc%5Etfw">July 25, 2024</a></p>
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<h2 id="eth-price-under-selling-pressure">ETH Price Under Selling Pressure</h2> 
<p>The <a href="https://coingape.com/price/ethereum/" target="_blank" rel="noopener">Ethereum price</a> has come under strong selling pressure recently tanking by more than 8% and dropping all the way to $3,150 levels. It turns out that the Ethereum ETF approval has been a sell-the-news event as investors cash out profits in the run-up before the ETF approval.</p> 
<p>Market analysts state that similar to Bitcoin, Ethereum could be seeing two weeks of downtrend before resuming the journey to a new all-time high.</p> 
<p>Also Read: <a href="https://coingape.com/ethereum-price-falling-today/" target="_blank" rel="noopener">Here’s Why Ethereum Price Is Falling Today</a></p> 
<p>The post <a href="https://coingape.com/blackrock-ethereum-etf-wallet-receives-76669-eth-from-coinbase/">BlackRock Ethereum ETF Wallet Gets 76,669 ETH From Coinbase</a> appeared first on <a href="https://coingape.com">CoinGape</a>.</p>

BlackRock Ethereum ETF Wallet Gets 76,669 ETH From Coinbase

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