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Ether ETFs Absorb Record $1 Billion as Inflows Eclipse Bitcoin Funds Ether ETFs Absorb Record $1 Billion as Inflows Eclipse Bitcoin Funds

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Ether ETFs Absorb Record $1 Billion as Inflows Eclipse Bitcoin Funds – Crypto News

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Spot Ethereum exchange-traded funds drew about $1 billion in net subscriptions on 12 August, the largest single-day haul since the products began trading

Spot Ethereum exchange-traded funds drew about $1 billion in net subscriptions on 12 August, the largest single-day haul since the products began trading. Data compiled by fund trackers show BlackRock’s iShares Ethereum Trust accounting for roughly $640 million of the intake, while Fidelity’s Ethereum Fund attracted a record $277 million.

The surge capped an eight-day streak of positive flows and lifted five-day inflows to roughly $2.3 billion. Total assets across U.S. spot Ether ETFs have swelled to $23.4 billion, a 165 percent jump from mid-May, and the vehicles together now hold more than 10 million ether—about 8 percent of the cryptocurrency’s circulating supply.

Investor appetite for Ether has recently eclipsed demand for Bitcoin funds. On 14 August, Ether ETFs pulled in about $639 million, nearly triple the $231 million that flowed into Bitcoin counterparts. Over the same session, spot Ether and Bitcoin ETFs changed hands on U.S. exchanges for a combined $11.5 billion, matching the turnover in Apple shares.

While Ether products dominate current inflows, interest in Bitcoin has not evaporated. BlackRock’s iShares Bitcoin Trust, the largest spot Bitcoin ETF, crossed $90 billion in assets this week, underscoring continued institutional participation in both of the market’s leading digital assets.

This is an AI-generated article powered by DeepNewz, curated by The Defiant. For more information, including article sources, visit DeepNewz.

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