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COINTURK NEWS > Cryptocurrency News > Investors Show Strong Interest in Spot Ethereum ETFs
Cryptocurrency News

Investors Show Strong Interest in Spot Ethereum ETFs

In Brief

  • Spot Ethereum ETFs saw significant investor interest on their first trading day.

  • Grayscale experienced major exits, while BlackRock and Bitwise saw large entries.

  • Spot Bitcoin ETFs had a day of exits, with Bitwise seeing the largest outflow.

COINTURK NEWS
COINTURK NEWS 11 months ago
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Yesterday marked another significant milestone for the cryptocurrency world. We witnessed the trading of Spot Ethereum ETFs in the market. Cryptocurrencies have now become a reality that traditional finance must accept, solidifying their position as an important financial instrument. Let’s take a look at yesterday’s figures together.

Contents
First Trading Day of Spot Ethereum ETFsCurrent Status of Spot Bitcoin ETFs

First Trading Day of Spot Ethereum ETFs

Yesterday was the first trading day of Spot Ethereum ETFs. The entry of $106.78 million showed investors’ desire to invest in Ethereum. The only exit yesterday, similar to Bitcoin ETFs, occurred on the Grayscale side. Grayscale’s two Spot Ethereum ETFs saw an exit of $484 million from ETHE, while the other saw an entry of $15 million.

There were entries in other Spot Ethereum ETFs. This indicated that the exits from Grayscale were absorbed. Significant entries were observed in BlackRock and Bitwise, with $266 million and $204 million, respectively.

Fidelity’s Spot Ethereum ETF saw an entry of $71 million, Franklin $13.21 million, VanEck $7.64 million, 21Shares $7.47 million, and finally, Invesco saw an entry of $5.54 million.

Current Status of Spot Bitcoin ETFs

Yesterday was a day of exits for Spot Bitcoin ETFs. The series was broken accordingly. The largest exit was from Bitwise, amounting to $70.32 million. In addition to Ark Invest’s $52 million exit, Grayscale also saw exits amounting to $27 million.

Although BlackRock saw an entry of $71.94 million yesterday, the overall figures closed in the negative as other Spot Bitcoin ETFs recorded zero entries. With Spot Ethereum ETFs and Spot Bitcoin ETFs, the cryptocurrency market will now be more sensitive to market conditions. The coming days will clearly show the direction of these ETFs based on both Bitcoin and Ethereum prices. As of writing, Bitcoin, the flagship of cryptocurrencies, is at $65,823, while Ethereum, the leader of altcoins, is at $3,440.

You can follow our news on Telegram, Facebook, Twitter & Coinmarketcap
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.

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COINTURK NEWS 24 July, 2024 - 9:36 am 24 July, 2024 - 9:36 am
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