Blackrock's ETHA Ethereum ETF has become the first among similar funds to reach the $1 billion mark in net flows within 21 days of its launch.
Achievements of ETHA Ethereum ETF
ETHA Ethereum ETF, launched by Blackrock, has become the first to cross the $1 billion mark in net flows within 21 days. Despite the overall negative sentiment for Ethereum in the market, the fund has shown steady growth. Specifically, on the launch date, the inflow was $266.5 million, followed by $118 million on June 30, and $109.9 million on July 6.
Status of Other Ethereum ETFs
Among all competitors, ETHA Ethereum ETF has shown the best performance. In the Spot ETH ETF category, the total outflow of funds amounted to $458 million, partly due to Grayscale's Ethereum Trust transitioning from a closed-end fund. High fees of 2.5% also negatively impacted its popularity. In contrast, funds from Fidelity and Franklin demonstrate lower fees and more positive results.
Conclusion
Blackrock continues to dominate the ETF market for both Bitcoin and Ethereum. ETHA Ethereum ETF has become the first to cross the $1 billion mark, reaffirming its leadership position. While Grayscale experiences outflows, ETHA shows stable inflows despite market turbulence.
Blackrock's ETHA Ethereum ETF has shown remarkable performance, reaching $1 billion in net inflows and becoming the first of its kind to do so. Other funds like Fidelity also demonstrate good results, highlighting the importance of low fees and effective management.
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