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Fidelity, a leading U.S. asset management firm with over $4.9 trillion in assets, has achieved a significant break in the spot Ethereum ETF market. Fidelity has stayed ahead of other approved issuers in the past two days, including BlackRock.

Other asset managers struggle to keep pace

According to data from Farside Investors, Fidelity’s Ethereum ETF (FETH) recorded inflows of $7.9 million and $14.3 million on Aug. 21 and 22, respectively. This marks a significant development, considering that asset manager BlackRock did not register any inflows on either day under consideration.

Aside from Fidelity, the only other asset managers with net positive inflows on Aug. 21 were Franklin and Grayscale (Mini), which registered $1 million and $4.2 million inflows, respectively. However, Franklin could not replicate positive flows on Aug. 22. VanEck had $1 million inflows, while Grayscale (Mini) dropped slightly with a $3.7 million recorded netflow.

The performances of Fidelity and the other two asset managers proved insufficient to place the issuers in the green zone, as the spot Ethereum ETF had a net outflow of $18 million and $800,000 on Aug. 21 and 22, respectively.

Can Fidelity maintain its inflows?

According to an earlier U.Today report, BlackRock clinched the $1 billion flow milestone ahead of other issuers and has had a good performance since regulatory approval by the U.S. Securities and Exchange Commission. Although the asset manager also witnessed days of no revenue, its overall inflow was significant compared to other managers.

Whether Fidelity will continue to generate positive inflows consistently or if the achievements were one-offs remains to be seen.

Regardless, in the broader crypto ecosystem, investors eagerly anticipate a positive reflection on the price of Ethereum. Despite the spot Ethereum ETF having only traded for about a month, the general market expectation includes a bullish ETH. According to data at the time of writing, ETH traded at $2,678.69, up 2.43% in the past 24 hours.