Fun

BlackRock’s iShares Ethereum Trust approaches $1B in net inflows — Morningstar

News Feed - 2024-08-22 12:08:33

Alex O’Donnell8 hours agoBlackRock’s iShares Ethereum Trust approaches $1B in net inflows — MorningstarETHA will be the first Ether exchange-traded fund to crest the $1-billion mark.1768 Total views4 Total sharesListen to article 0:00NewsOwn this piece of crypto historyCollect this article as NFTCOINTELEGRAPH IN YOUR SOCIAL FEEDFollow ourSubscribe onBlackRock’s Ether exchange-traded fund (ETF) has reached approximately $1 billion in net inflows, underscoring its lead among rival ETF ETFs, according to data from fund researcher Morningstar shared with Cointelegraph. 


According to Morningstar, the iShares Ethereum Trust (ETHA) has pulled in $992 million in net inflows, putting the fund on track to surpass the $1-billion mark imminently. 


“It’s very likely, but not a certainty” that ETHA will crest $1 billion in net inflows by close of market on Aug. 21, Bryan Armour, director of passive strategies research at Morningstar, told Cointelegraph. “I believe a single creation unit would put it over the top.”


The Ether (ETH) ETF’s net assets are slightly below $1 billion — $837,898,429 as of mid-day Aug. 21 — because of ETH’s underperformance since ETH ETFs started trading in July.


“Two things impact net assets: net flows and performance. Poor performance has kept net assets much lower than total net flows into the fund,” Armour said. Ether (ETH) has underperformed since ETHA’s launch. Source: iShares


Related:Crypto ETFs will expand to new asset types, indexes — Grayscale executive


Fund issuers say ETH ETFs are gaining surprising traction among registered investment advisors (RIAs), who direct up to half of fund flows in the $9-trillion ETF market.


“A pleasant surprise to me has been the significant interest from the adviser community” in ETH ETFs, Kyle DaCruz, director of digital assets product for asset VanEck — an asset manager that sponsors crypto ETFs — told Cointelegraph.


DaCruz said advisers find Ether “easier to value and explain to their clients” than Bitcoin (BTC) because the blockchain network “is cash flow producing” and resembles a technology stock. Ethereum validators earn fees in ETH for processing network transactions. 


According to Morningstar data, net assets in ETH ETFs stood at approximately $7.3 billion as of the close of the market on Aug. 20. 


Grayscale Investments, the largest crypto fund issuer with approximately $25 billion in assets under management, anticipates that more crypto ETFs will soon hit the market. 


“We’re going to see a number of more single asset products, and then also certainly some index-based and diversified products,” Dave LaValle, Grayscale’s global head of ETFs, said on Aug. 12


Magazine:11 critical moments in Ethereum’s history that made it the No. 2 blockchain# Business# Ethereum# Bitcoin Regulation# Adoption# Ethereum Price# Ethereum ETF# Bitcoin ETF# BlackRock# ETFAdd reaction

News Feed

Bitfarms Starts Construction of Mega Bitcoin Mining Farm in Argentina
Bitfarms Starts Construction of Mega Bitcoin Mining Farm in Argentina Bitfarms, a bitcoin mining company, announced last week that construction is underway for a mega bitcoin minin
Russia Proposes New Rules and Penalties for Cryptocurrency Owners
Russia Proposes New Rules and Penalties for Cryptocurrency Owners The Russian Ministry of Finance has developed new amendments to the country’s cryptocurre
Finder’s Poll Conducted Weeks Before Terra’s Fallout Predicted LUNA Would Tap $143 This Year
Finder"s Poll Conducted Weeks Before Terra"s Fallout Predicted LUNA Would Tap $143 This Year Just recently, the product comparison platform finder․com polled 36 fintech spec
Martin Young4 hours agoEthereum LSDFi sector grew nearly 60x since January in post-Shapella surge: CoinGeckoThe LSDFi sector’s total value locked has grown 5,870% since January as ETH holders seek better yields.852 Tot
Samsung Launches ‘Space Tycoon’ Metaverse Experience
Samsung Launches "Space Tycoon" Metaverse Experience Electronics giant Samsung has announced the launch of Space Tycoon, a metaverse-based experience built as part of the Roblox wo
Dogecoin Breakout Alert! This Pattern Could Trigger A ‘Parabolic’ Surge
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
Riot Blockchain Buys 8,000 of Bitmain’s Latest Bitcoin Miners, Company Targets 1.5 EH/s by 2021
Riot Blockchain Buys 8,000 of Bitmain"s Latest Bitcoin Miners, Company Targets 1.5 EH/s by 2021Bitmain Technologies Inc. said Monday that Nasdaq-listed Riot Blockchain is buying 8,0
Bitcoin.com’s Cashfusion Fund Exceeds Goal: $100K Raised for Bitcoin Cash Privacy
Bitcoin.com"s Cashfusion Fund Exceeds Goal: $100K Raised for Bitcoin Cash Privacy Bitcoin.com’s Cashfusion Fund officially surpassed the fundraiser goal by 103.3% or $51K w
Dogecoin Ready To Hit $1 – Price Struggles To Break Above Major Resistance
Este artículo también está disponible en español. Dogecoin (DOGE) is currently trading below a key resistance level, signaling the potential for a bullish breakout. Howev
Bitcoin price holds above $62K as ETFs see record volumes
Nancy Lubale5 hours agoBitcoin price holds above $62K as ETFs see record volumesBitcoin price seesaws above $62,000 as U.S. spot Bitcoin ETFs hit record net inflows and trading volumes on Feb. 28.1597 Total views9 Total
Davos 2023: Banking Panel Reinforces the Need for Crypto Regulation
Davos 2023: Banking Panel Reinforces the Need for Crypto Regulation A group of global banking experts hosted by the World Economic Forum (WEF) convened about the need for global cr
John Deaton files amicus brief in support of Coinbase appeal against SEC
Turner Wright3 hours agoJohn Deaton files amicus brief in support of Coinbase appeal against SECThe lawyer said he had filed a brief on behalf of 4,701 Coinbase customers for no charge as part of his advocacy work in the