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    Home»ETFs»BlackRock’s iShares ETFs Explode With Largest BTC, ETH Inflows
    ETFs

    BlackRock’s iShares ETFs Explode With Largest BTC, ETH Inflows

    August 22, 2024


    BlackRock's iShares ETFs Explode With Largest BTC, ETH Inflows
    Cover image via www.freepik.com

    Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.

    Contents

    • BlackRock beats rival crypto ETFs in BTC and ETH
    • Vitalik Buterin’s tweet fuels brief ETH surge

    Analytics account @lookonchain has published a Bitcoin and Ethereum ETF update for Aug. 21, showing that both on that day and over the past week, BlackRock’s ETFs have seen the largest inflows of Bitcoin and Ethereum.

    BlackRock beats rival crypto ETFs in BTC and ETH

    On Wednesday, BlackRock’s iShares’ Bitcoin ETF scooped up 933 BTC worth almost $56 million and currently holds a mind-blowing $21 billion in Bitcoin, which is 351,454 BTC. Positive inflows of the other spot Bitcoin ETFs constituted zero BTC, except for Bitwise, Invesco Galaxy and Grayscale. These ETFs saw outflows of 109 BTC, 214 BTC and 9 BTC.

    Within the past seven days, BlackRock Bitcoin ETF inflows have comprised 2,891 BTC (worth $176,155,857), with the Fidelity ETF coming right after it with 1,071 BTC. Bitwise, Invesco Galaxy and Grayscale have lost 332 BTC, 337 BTC and 3,361 BTC in the last week.

    As for spot Ethereum ETFs, BlackRock is leading the way up to this week and scored the largest inflows on Wednesday in particular. On Aug. 21, BlackRock’s ETHA scored an impressive inflow of 10,300 ETH, worth more than $26.88 million. As of now, this spot ETF holds 332,723 ETH in total. That is the equivalent of $867.74 million in fiat.

    In the last seven days, ETHA has consumed twice as much as that – 20,603 ETH. Grayscale Ethereum Mini Trust sucked in 1,885 ETH and Bitwise Ethereum ETF absorbed 1,435 ETH.

    Related

    'Rich Dad Poor Dad' Author Names 'Trillion Dollar' Reason to Buy Bitcoin

    Vitalik Buterin’s tweet fuels brief ETH surge

    On Wednesday, the Ethereum cofounder and its frontman, Canadian programmer with Russian roots Vitalik Buterin, published a “bullish Ethereum tweet.” In that post, Buterin confessed that he has been receiving quite a lot of criticism recently about too much “philosophizing” in his tweets.

    X crypto users have been advising him to do less of that and do “more ethereum bullposting.” Therefore, he indeed published an AI-generated image of a bull wearing a small whiteboard on his neck, which says, “Ethereum is good.”

    I have been told that I need to “do less philosophizing and do more ethereum bullposting”. Hence, here is an ethereum bullpost, courtesy of stable diffusion 3 inpainting + gimp. pic.twitter.com/ZcPjNVImpn

    — vitalik.eth (@VitalikButerin) August 21, 2024

    Curiously, this post immediately triggered Ethereum price growth; the second most popular cryptocurrency quickly added almost 3%, rising from $2,580 to the $2,650 zone. That brief surge was followed first by a rapid 1.77% decline and then with a rise of less than 1%. At the time of this writing, Ethereum is changing hands at $2,624.





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