BlackRock Ethereum ETF Breaking Charts: Details

12/19/2024 18:27
BlackRock Ethereum ETF Breaking Charts: Details

BlackRock now in clear lead with Ethereum ETF inflows

BlackRock now in clear lead with Ethereum ETF inflows

BlackRock Ethereum ETF Breaking Charts: Details

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The BlackRock iShares Ethereum Trust (ETHA) has continued outperforming its peers after recording a 14-day inflow streak. Per data from Farside Investors, ETHA recorded an $81.9 million inflow on Dec. 18, bringing its total inflow to $3.446 billion.

BlackRock Ethereum ETF setting pace

BlackRock has always outperformed its peers across its suite of crypto ETF products. Since Ethereum ETF products got approval from the United States Securities and Exchange Commission, Fidelity appeared to take the lead in inflows relative to BlackRock.

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BlackRock Ethereum ETF Climbs to Top 4 With Record Inflows

However, the tide has changed over the past two weeks. While both BlackRock and Fidelity’s FETH scored inflows until the latter broke the trend with no flow at all on Dec. 18, the former outshone the latter in terms of flow value.

With the $3.446 billion that ETHA has recorded, Fidelity’s FETH currently boasts $1.386 billion. BlackRock has propped up the Ethereum ETF market at a time when expectations for the coin have started soaring despite intense market volatility.

This sustained interest from corporate investors is considered good for Ethereum. With capital flow and ETH purchases, the coin might see an increase in price in the long run, effectively helping to kickstart the much-anticipated altcoin season.

Ethereum price outlook

Inflows into the Ethereum ETF market have yet to do much to sustain price growth over the past week.

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Ethereum ETFs Break Record With $332 Million Inflows

As of this writing, Ethereum's price has decreased by 5.09% to $3,672.86. While the causative factor behind the current price slip-off is tied to the Federal Reserve chairman's dismissal of a strategic Bitcoin reserve for the country, the ETF market could not prevent the sell-offs.

There are projections of an imminent recovery in Ethereum's price moving forward. Despite close ties to ETF performance, the Ethereum network brandishes other major fundamentals that can help fuel a rebound.

About the author

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Godfrey Benjamin

Godfrey Benjamin is an experienced crypto journalist whose main goal is to educate everyone around him about the prospects of Web 3.0. His love for crypto was birthed when, as a former banker, he discovered the obvious advantages of decentralized money over traditional payments. With his vast experience covering various aspects of Web3, Godfrey's articles has been featured on Blockchain.news, Cryptonews and Coingape, among others.

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