Ethereum ETFs Shine On Day 1 With $107M Net Inflows — But What About The Bitcoin ETFs?
Portfolio Pulse from Murtuza Merchant
The launch of Ethereum ETFs in the U.S. saw a strong start with $107 million in net inflows on the first day. BlackRock's iShares Ethereum Trust (ETHA) led with $266.55 million, followed by Bitwise Ethereum (ETHW) and Fidelity Ethereum Fund (FETH). Bitcoin ETFs, however, experienced net outflows, with Grayscale (GBTC), Ark & 21Shares (ARKA), and Bitwise (BITB) seeing significant outflows, while BlackRock's Bitcoin ETF (IBIT) had a net inflow.
July 24, 2024 | 12:04 pm
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NEGATIVE IMPACT
Ark & 21Shares's Bitcoin ETF (ARKA) had a net outflow of $52.29 million.
ARKA's net outflow indicates waning investor interest, likely causing a short-term price drop.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70
NEGATIVE IMPACT
Bitwise's Bitcoin ETF (BITB) saw a net outflow of $70.32 million.
BITB's net outflow reflects declining investor interest, likely leading to a short-term price decrease.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70
NEGATIVE IMPACT
Grayscale's Bitcoin ETF (GBTC) experienced a net outflow of $27.31 million.
GBTC's net outflow suggests reduced investor interest, likely leading to a short-term price decline.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70
POSITIVE IMPACT
BlackRock's iShares Ethereum Trust (ETHA) led the Ethereum ETF launch with $266.55 million in net inflows.
ETHA's strong inflows indicate high investor interest, likely boosting its short-term price.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100
POSITIVE IMPACT
Bitwise Ethereum (ETHW) saw $204 million in net inflows on the first day of trading.
ETHW's significant inflows suggest strong investor demand, likely leading to a short-term price increase.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 90
POSITIVE IMPACT
Fidelity Ethereum Fund (FETH) attracted $71 million in net inflows on its first day.
FETH's inflows indicate positive investor sentiment, likely resulting in a short-term price rise.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
BlackRock's Bitcoin ETF (IBIT) had a net inflow of $71.94 million.
IBIT's net inflow suggests strong investor confidence, likely resulting in a short-term price increase.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70