Aug 15, 01:54 AM

Ethereum Spot ETFs Draw Record $638 Million in One Day

U.S. spot exchange-traded funds tracking Ether attracted about $638 million of net new cash on Thursday, the largest one-day intake since the products began trading earlier this year, according to fund flow data compiled from public filings. BlackRock’s iShares Ethereum Trust led the surge with roughly $520 million, while other issuers accounted for the balance. The ETFs collectively bought an estimated 139,000 Ether, dwarfing the network’s net issuance of roughly 2,400 coins—demand that exceeded the day’s new supply by almost 60 times. On a supply-adjusted basis, the inflows were roughly 25 percent higher than the previous single-day record set by Bitcoin ETFs, highlighting a shift in investor preference even as equity markets slid following the worst U.S. producer-price report in three years. The latest haul lifts the combined assets of Bitcoin and Ethereum ETFs to about 1.6 percent of all U.S.-listed ETF assets, double their share a year ago and underscoring the deepening foothold of cryptocurrencies in mainstream portfolios.

#Ether #BlackRock #iShares Ethereum Trust #Bitcoin

Written with ChatGPT .

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Ethereum Spot ETFs Draw Record $638 Million in One Day

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