- As of August 16, 2024, Grayscale Ethereum Trust (ETHE) suffered a negative inflow of $27.7 Million, as per SoSoValue.
- The Ether spot ETF by BlackRock recorded the highest intraday inflow of $10.33 Million.
- The total net assets of the US Bitcoin spot ETFs is $54.35 Billion, roughly 4.56% of BTC’s market capitalization.
Ethereum displayed sharp momentum following the Ether spot ETF approval. Total addresses on the ETH blockchain have reached a new milestone since the ETF approval.
Ethereum (ETH) Spot ETFs Price Overview
According to SoSoValue, the daily registered inflow in the United States ETH spot ETFs total cumulative inflow is $-420.11 Million (as of August 16, 2024). Grayscale Ethereum Trust (ETHE) mirrored a negative inflow of $27. 7 Million.
The recent turmoil in the broader cryptocurrency market has created a FOMO among investors, leading to severe outflow from different spot ETFs. Despite this outflow, Ether spot ETFs saw an inflow of over $1 Billion after BlackRock and other financial giants entered the crypto market.
Source: SoSoValue
VanEck Ethereum Trust (ETHV) saw a negative inflow of $4.80 Million as of August 16, 2024. However, iShares Ethereum Trust (ETHA) recorded the highest intraday inflow of $10.33 Million, with a daily volume of 2.46 Million.
Fidelity Ethereum Fund (FETH) continues to lure Ethereum enthsciats, adding $7.21 Million inflow to its Cum Net Inflow. FETH is trading at $26.23 with an intraday trading volume of 451.45K.
As of August 16, 2024, the Cumulative Net Inflow of ETHE was $-2.41 Billion, although the Ether spot ETF by BlackRock has Cum Net Inflow of $977.62 Million.
Market watchers claim that the entry of traditional financiers and asset managers in crypto has reshaped the image of digital assets.
Bitcoin (BTC) Spot ETFs Update
Grayscale is one of the most prominent companies involved in cryptocurrencies, ETFs, and other related products. In the early trading days, Grayscale Bitcoin Trust (GBTC) gathered huge attention and an inflow of funds. The surge in ETF providers reduced its popularity, an expert claims.
The Daily Total Net Inflow in the US Bitcoin spot ETFs was $36.01 Million (as of August 16). Fidelity Wise Origin Bitcoin Fund (FBTC) saw the highest inflow of 461.35 Million.
BlackRock is steadily expanding its dominance in BTC spot ETFs and Ether Spot ETFs with a Cum Net Inflow of $20.39 Billion in its iShares Bitcoin Trust (IBIT). The last trading price of IBIT was $34.03, with a daily trading volume of 22.69 Million.
Source: SoSoValue
The total net assets of the US Bitcoin spot ETFs is $54.35 Billion, roughly 4.56% of the entire market capitalization of the BTC.
Crypto Market Price Update
When writing, the global cryptocurrency market capitalization is $2.038 Trillion, with a monthly decline of –11.32%.
Currently, the market cap is below 20,50,100, and 200 days EMA (exponential moving average), and there is speculation that the cap is expected to reach above $2.50 trillion in the coming weeks.
Bitcoin prices fell over -7.56% in the past 30 days, reaching $59,252. Despite short-term bearishness, BTC has been trading +122% in the 52-week time frame.
