Fun

BlackRock Ethereum Holdings Surpass 1.2 Million ETH Amidst Strong Institutional Adoption – Details

News Feed - 2025-01-26 08:01:46

Este artículo también está disponible en español.


Ethereum (ETH) declined by 5.68% in the last week in line with the majority of the crypto market. The prominent altcoin currently trades around $3,290 as investors await the crypto bull run’s return to form. On the other hand, rising institutional adoption provides a positive development for the Ethereum community. Related Reading Justin Sun’s Grand Strategy For Ethereum Price: $10,000 Target 21 hours ago BlackRock’s ETHA Lead Spot ETF Market With 1.2 Million ETH


According to arecent X post by Burak Kesmeci, Ethereum is currently experiencing a surge in institutional adoption as evidenced by developments in the Spot ETF Market. Kesmeci highlights that BlackRock’s ETHA accounts for the majority of this demand with net assets of 1.2009 ETH valued at over $3.19 billion. According to data from SoSoValue, this record is largely unsurprising as ETHA has experienced the highest net cumulative inflows of $3.97 billion in the Ethereum Spot ETF market.


  Source: Burak Kesmeci On X


 


Fidelity’s FETH occupies second place with 432,750 ETH valued at around $1.46 billion. Bitwise’s ETHW and VanEck’s ETHV follow with holdings of 105,974 ETH and 45,766 ETH, respectively. Meanwhile, all other Ethereum Spot ETFs except the Grayscale ETHE have accumulated at least 7,000 ETH since their launch in July 2024.


A rise in institutional demand of Ethereum as Indicated by the data above indicates strong confidence in the asset’s long-term profitability.  While Ethereum Spot ETFs may not replicate the performance of Bitcoin counterparts, the institutional demand these funds command could enhance ETH market stability and liquidity, paving the way for broader regulatory acceptance and mainstream adoption.  Related Reading Ethereum Consolidates But Open Interest Points to Potential Breakout 1 day ago Short Transactions Dominate Ethereum Market


In other news, bearish sentiments currently prove dominant in the ETH market as dominated by a higher proportion of short-term transactions to long transactions.


According to Kesmeci, short orders represent 57% of all Ethereum futures trades indicating that the majority of traders are betting the altcoin to experience a further price decline. This negative development is particularly observed on the Bitmex and Bitfinex exchanges. 


At the time of writing, Ethereum trades at $3,297 after 0.17% loss in the last 24 hours. Meanwhile, the asset’s trading volume has dipped by 24.24% and is now valued at $25.36 billion.


Based on its daily trading chart, Ethereum appears to be consolidating despite recent losses. With any price rally, the altcoin could reach around $3,700, moving past which would spur a return to around $4,000. On the other hand, another fall in Ethereum’s price could result in a slump to around $3,100, which lies its next significant support level.


With a market cap of $396.85 billion, ETH retains its position as the largest altcoin and second-largest cryptocurrency in the world.


  ETH trading at $3,301.16 on the daily trading chart | Source: ETHUSDT chart on Tradingview.com


  Featured image from Freepik, chart from Tradingview


 

News Feed

Coinbase Publishes Proposal for Crypto Regulation Pushing 4 Core Recommendations
Coinbase Publishes Proposal for Crypto Regulation Pushing 4 Core Recommendations Cryptocurrency exchange Coinbase has published its proposal for crypto regulation after “mor
US Treasury Secretary Janet Yellen Says ‘the Misuse of Cryptocurrencies Is a Growing Problem’
US Treasury Secretary Janet Yellen Says "the Misuse of Cryptocurrencies Is a Growing Problem" Janet Yellen, the new U.S. Treasury Secretary, has warned about &ld
Analyst Identifies Bitcoin Key Support Levels Amid Rebound Challenge – Details
Este artículo también está disponible en español. The price of Bitcoin has shown no significant movement in the past day following a price rebound at the start of January
Metametaverse Secures $2 Million — Aims to Achieve Metaverse Interoperability
Metametaverse Secures $2 Million — Aims to Achieve Metaverse Interoperability Metametaverse, a company whose purpose is the integration and interoperation of different metaverses
Biggest Movers: XRP Surges to Strongest Point Since November
Biggest Movers: XRP Surges to Strongest Point Since November Xrp moved to its highest point since November, as markets reacted to news suggesting a verdict could be near in Ripple&
Argentine Startup Action Point Develops White Label Solution to Include Crypto in Traditional ATMs
Argentine Startup Action Point Develops White Label Solution to Include Crypto in Traditional ATMs Action Point, an Argentine startup, has developed a white-label solution that all
Ripple Has No Plans to Settle With SEC Over XRP, Confident Gensler Will Drop the Lawsuit
Ripple Has No Plans to Settle With SEC Over XRP, Confident Gensler Will Drop the Lawsuit Amid the ongoing lawsuit with the U.S. Securities and Exchange Commission (SEC), Ripple
Kingdom Karnage Raises $2M From Animoca Brands, Enjin and DFG to Boost GameFi Features
Kingdom Karnage Raises $2M From Animoca Brands, Enjin and DFG to Boost GameFi Features press release PRESS RELEASE. United Kingdom — January 13th, 2022 –Kepithor Studi
4 years in, MicroStrategy’s Bitcoin gamble beats Warren Buffett’s warning
Yashu Gola10 hours ago4 years in, MicroStrategy’s Bitcoin gamble beats Warren Buffett’s warningMicroStrategy’s stock value is up by 1,000% since its first Bitcoin purchase, while Warren Buffett and Berkshire Hathaw
The Mysterious FTX Debacle, Tim Draper’s BTC Price Prediction, More Support for Ripple in SEC Lawsuit — Week in Review
The Mysterious FTX Debacle, Tim Draper"s BTC Price Prediction, More Support for Ripple in SEC Lawsuit — Week in Review As theories proliferate wildly about the true nature of wha
Spellfire Completes Seed Funding Round – Terranova, x21, Autonomy Capital Among Top Investors Onboard
Spellfire Completes Seed Funding Round - Terranova, x21, Autonomy Capital Among Top Investors Onboard sponsored Spellfire, a legendary card-based NFT game powered by Ethereum and in
William Suberg11 hours agoBitcoin loses $29K as traders flag key BTC price levels to watch nextBitcoin traders are particularly interested in the short-term holder cost basis as a potential BTC price support level.4793 T