BlackRock ETH ETF Don Pass 2 Million ETH, Dey See $900M Inflows
Spot Ethereum ETFs record one kainfi million na $908 million na net inflows last week, dem mark say nine consecutive weeks of growth don hapen. Assets wey dey under management don reach $13.5 billion, wey be 3.8% of ETH market cap. BlackRock’s iShares Ethereum Trust (ETHA) lead with $675 million inflows and e don surpass 2 million ETH wey e hold, na about 1.65% of the circulating supply. Fidelity ETF and Grayscale funds add $87 million, $73 million and $37 million respectively. Bitwise, VanEck, 21Shares and Franklin Templeton see moderate inflows, but Invesco’s QETH see outflows. ETHA NAV rise to $22.80 by Friday, wey be 17% up from Monday $19.36, as trading volume increase and ETH come close to $3,000. The shift of Ethereum ETF waka dey tighten liquidity and dey show the growing role of Ethereum ETFs for market dynamics. Over 70 altcoin ETF applications, including SOL, DOGE and XRP, dey wait SEC review, wey highlight bigger institutional interest.
Bullish
Di rekod di money wey dey flow enter Ethereum ETFs, weh BlackRock’s ETHA don carry pass 2 million ETH holdings, show say institutional demand strong and say di open market ETH stock don reduce. For di short term, dis one don help price jom, wit ETHA’s NAV don go up 17% and ETH dey trade near $3,000. For di long term, if ETF adoption continue, e fit reduce di liquidity for di chain, e go help price stability and e fit push price even higher as more capital dey flow inside regulated channels. Di pending altcoin ETF approvals still show say institutional interest large, e back di bullish outlook for Ethereum.