
BlackRock Exec Explains Its Ethereum ETF Product’s Underperformance
Spot Ethereum ETF products are faring below expectations, including BlackRock’s iShares Ethereum Trust.
Spot Ethereum ETF products are faring below expectations, including BlackRock’s iShares Ethereum Trust.
This massive exodus of capital suggests that investors are gradually withdrawing from the ecosystem. It also coincides with Bitcoin’s struggles to find a support level.
This was the highest net inflow recorded by the funds in a single day since July 23.
While all nine Ethereum ETFs approved have experienced varying degrees of outflows, the Grayscale Ethereum Trust (ETHE) is by far the fund that has lost the most investment.
The US spot Ethereum ETFs have seen over $500 million in total net outflows since it started trading last month.
With the latest registered inflow, the offering’s total net flow in the last 12 trading sessions has nearly reached $2 billion.
Recently, BTC has been demonstrating a downtrend with prices falling below $60,000. While many may perceive this sentiment as an opportunity to exit the market, Kiyosaki called it a perfect time to buy more of the coin.
The report comes amid rising investor demand for regulated exposure to Ether (ETH), the world’s second-largest cryptocurrency by market capitalization.
After four consecutive days of outflows, Tuesday, June 18th marked a new low point.
While Gold ETFs have been for the past 20 years, five-month-old US spot Bitcoin ETFs currently have 60% of their AUM.
ARKB’s negative flow contrasts with the overall flow of the US spot ETFs, which logged their 13th consecutive day of combined net inflows on the same day.
Eric Balchunas, a Bloomberg ETF analyst, is optimistic about BlackRock’s amended S-1 filing, considering it a positive sign for the future launch of Ethereum ETFs.
A total of $13.43 billion has flowed into spot BTC ETFs since the approval of the digital assets in January, but the current capital flowing into the investment products remains significantly low compared to their peaks in March.
The rally in Bitcoin price and spot Bitcoin ETF inflows comes as the US SEC decision date for spot Ethereum ETFs inch closer.
There’s an ongoing investigation into Ether’s status as a potential security.