🥇 First rule of investing? Know when to save! Up to 55% off InvestingPro before BLACK FRIDAYCLAIM SALE

BlackRock's iShares ETFs Explode With Largest BTC, ETH Inflows

Published 22/08/2024, 11:43
© Reuters BlackRock\'s iShares ETFs Explode With Largest BTC, ETH Inflows
BLK
-
BTC/USD
-
ETH/USD
-

U.Today - Analytics account @lookonchain has published a Bitcoin and Ethereum ETF update for Aug. 21, showing that both on that day and over the past week, BlackRock’s ETFs have seen the largest inflows of Bitcoin and Ethereum.

BlackRock beats rival crypto ETFs in BTC and ETH

On Wednesday, BlackRock’s iShares’ Bitcoin ETF scooped up 933 BTC worth almost $56 million and currently holds a mind-blowing $21 billion in Bitcoin, which is 351,454 BTC. Positive inflows of the other spot Bitcoin ETFs constituted zero BTC, except for Bitwise, Invesco Galaxy and Grayscale. These ETFs saw outflows of 109 BTC, 214 BTC and 9 BTC.

Within the past seven days, BlackRock Bitcoin ETF inflows have comprised 2,891 BTC (worth $176,155,857), with the Fidelity ETF coming right after it with 1,071 BTC. Bitwise, Invesco Galaxy and Grayscale have lost 332 BTC, 337 BTC and 3,361 BTC in the last week.

As for spot Ethereum ETFs, BlackRock is leading the way up to this week and scored the largest inflows on Wednesday in particular. On Aug. 21, BlackRock’s ETHA scored an impressive inflow of 10,300 ETH, worth more than $26.88 million. As of now, this spot ETF holds 332,723 ETH in total. That is the equivalent of $867.74 million in fiat.

In the last seven days, ETHA has consumed twice as much as that – 20,603 ETH. Grayscale Ethereum Mini Trust sucked in 1,885 ETH and Bitwise Ethereum ETF absorbed 1,435 ETH.

Vitalik Buterin's tweet fuels brief ETH surge

On Wednesday, the Ethereum cofounder and its frontman, Canadian programmer with Russian roots Vitalik Buterin, published a “bullish Ethereum tweet.” In that post, Buterin confessed that he has been receiving quite a lot of criticism recently about too much “philosophizing” in his tweets.

X crypto users have been advising him to do less of that and do “more ethereum bullposting." Therefore, he indeed published an AI-generated image of a bull wearing a small whiteboard on his neck, which says, “Ethereum is good.”

Curiously, this post immediately triggered Ethereum price growth; the second most popular cryptocurrency quickly added almost 3%, rising from $2,580 to the $2,650 zone. That brief surge was followed first by a rapid 1.77% decline and then with a rise of less than 1%. At the time of this writing, Ethereum is changing hands at $2,624.

This content was originally published on U.Today

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers
© 2007-2024 - Fusion Media Limited. All Rights Reserved.