BlackRock ETH ETF Don Hit $10B AUM Wit Record Inflows, 45% Gain
BlackRock ETH ETF (ETHA) don pass $10 billion for AUM within one year, e become di third-fastest ETF wey reach dis mark. E double from $5 billion to $10 billion in just 10 days after 11 consecutive weeks wey ETH ETF money dey enter, including $332 million for July 23 and $231 million for July 24. Institutional buyers don collect 2.83 million ETH since mid-May through ETH ETF and other ways, plus anoda 5.33 million ETH dey expected for next year compared to only 0.8 million ETH wey dem issue new. Dis ETH ETF money dey push price 45% up this month from $2,400 to peak of $3,800, ETH dey trade around $3,600 as BTC small pullback dey happen. ETH futures open interest don shoot reach $57 billion, mid-July profit-taking reach $1.4 billion per day. Traders suppose observe di ongoing ETF flow and institution demand as main drivers of liquidity and price momentum.
Bullish
Steady ETH ETF money por weta, quick double for AUM and institutional demand wey dem dey predict go pass new issuance well, dey give strong foundation for price. Di 45% monthly gain, plenty open interest plus small small profit taking show say market dey bullish both short and long term, e mean say price fit still go up as traders dey chase liquidity and ETF-driven flows.