Fun

Ether ETFs start trading, preliminary inflow data revealed

News Feed - 2024-07-24 01:07:26

Vince Quill7 hours agoEther ETFs start trading, preliminary inflow data revealedAnalyst Eric Balchunas says that initial inflows into the Ether ETFs accounted for roughly 50% of Bitcoin ETF inflows on day one.5489 Total views4 Total sharesListen to article 0:00NewsOwn this piece of crypto historyCollect this article as NFTJoin us on social networksEther exchange-traded funds (ETFs) are now officially trading on stock exchanges, and the preliminary inflow data for the first 15 minutes of trading has been revealed by analysts.


According to Bloomberg senior ETF analyst Eric Balchunas, Bitwise outperformed its competitors during the first quarter-hour of trading, recording $25.5 million in capital inflows, second only to Grayscale’s Ethereum Trust, created in 2017.Source: Eric Balchunas


Total inflows into the nine Ether (ETH) investment vehicles reached $112 million in the first 15 minutes of trading, which is far more than traditional ETF offerings, the Bloomberg analyst claimed.


Balchunas also noted that while current inflows into Ether ETFs equal roughly half of the inflows witnessed on day one of the Bitcoin (BTC) ETF launch, the inflows still exceeded expectations. Buy the rumor, sell the announcement?


Despite the launch of the highly anticipated Ether ETF and the initial $112 million in inflows, the price of Ether has fallen since the start of the trading day.


Related: Ethereum ETF inflows could hit $10B, sending ETH to new highs — Analyst.ETH/USD daily candle chart. Source: TradingView


Ether began the day trading at roughly $3,540 before falling to a low of $3,426. It managed to regain some ground and is currently trading at around $3,471.Hot competition among ETF issuers


To attract investors, most of the nine Ether ETF issuers have slashed fees or eliminated them for a period, showcasing the competition among issuers.


In a July 17 United States Securities and Exchange Commission filing, 21Shares revealed it planned to waive fees for the first six months of trading and then levy a 0.21% management fee after the six-month timeframe.


BlackRock employed a similar fee discount structure, advertising a 0.12% initial management fee that will climb to 0.25% once one year has elapsed or the ETF reaches $2.5 billion in assets under management, whichever comes first.


Bitwise leveraged a unique strategy of pledging 10% of its spot Ether profits to fund Ethereum developers in partnership with the Protocol Guild, representing over 170 Ethereum builders.


Magazine: Ethereum restaking: Blockchain innovation or dangerous house of cards?# Business# Ethereum# Ethereum Price# Market Release# Ethereum ETF# ETFAdd reaction

News Feed

Marcel Pechman4 hours agoCould a Bitcoin bull run be triggered by Fitch’s US credit rating downgrade?Fitch downgraded the U.S. credit rating due to its government debt and potential challenges in handling its fiscal re
Latest Ghana Inflation Rate the Highest in 19 Years — Economist Recommends Installation of Currency Board
Latest Ghana Inflation Rate the Highest in 19 Years — Economist Recommends Installation of Currency Board Ghana’s ongoing economic woes appeared to worsen in July after da
NYSE, Nasdaq withdraw 3 more requests for crypto ETF options rule changes
Alex O’Donnell7 hours agoNYSE, Nasdaq withdraw 3 more requests for crypto ETF options rule changesActivity keeps heating up around Bitcoin and Ether ETF options.1558 Total views1 Total sharesListen to article 0:00NewsO
Ray Salmond2 hours agoBitcoin price trades near key $31.7K pivot point — Can BTC bulls keep up the volume?Bitcoin started the week with a bang, but the real question is, what is driving the move and is it sustainable?3
Argentinian Government Excludes Crypto Investors From Buying Dollars
Argentinian Government Excludes Crypto Investors From Buying Dollars The Argentinian Central Bank has issued a new set of restrictions that are affecting citizens and companies tha
Russia Wants to Be Able to Seize Cybercriminals’ Bitcoin
Russian authorities are seeking legal means to confiscate virtual assets such as cryptocurrencies as they already can with more traditional forms of property. In an effort to fight
Vaneck CEO Predicts Bull Cycle for Bitcoin and Gold — Expects Fed Tightening to End Soon
Vaneck CEO Predicts Bull Cycle for Bitcoin and Gold — Expects Fed Tightening to End Soon The CEO of investment management firm Vaneck has predicted a bull cycle for gold and bitc
XRP Could Hit $9 In Euphoric Fifth Wave, Elliott Wave Analyst Predicts
Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and pu
US Economy at Risk of Crash Landing, Allianz Warns
US Economy at Risk of Crash Landing, Allianz Warns Allianz, one of the world’s largest insurers, has warned that the U.S. economy is headed toward a crash landing. “We expect t
US Treasury Sanctions 2nd Cryptocurrency Exchange, DOJ Seizes $6.1 Million
US Treasury Sanctions 2nd Cryptocurrency Exchange, DOJ Seizes $6.1 Million The U.S. Treasury Department has sanctioned a second cryptocurrency exchange “for facilitating fin
40 Million Troy Ounces: Russia’s Gold Find Reaffirms Bitcoin as the More Scarce Asset
40 Million Troy Ounces: Russia"s Gold Find Reaffirms Bitcoin as the More Scarce Asset News of the discovery of approximately 40 million troy ounces of gold in Ru
An In-Depth Look at Olympus DAO Protocol and the Not-So-Stable Stablecoin OHM
An In-Depth Look at Olympus DAO Protocol and the Not-So-Stable Stablecoin OHM In mid-October, Bitcoin.com News reported on how decentralized finance (defi) or algorithmic stablecoi