Ether ETFs Defy Market Panic to Record First Inflow Streak
- Ethereum ETFs have seen their first run of consecutive inflows.
- The positive run has seen BlackRock’s ETHA clinch new milestones.
- Ether ETFs are another step closer to achieving positive net inflows following the recent inflows.
Over the past few days, a rollercoaster of emotions has coursed through crypto as macroeconomic headwinds have sent panic across risk markets.
Amid the chaos, however, investors in spot ether ETFs have shown incredible resilience. Despite a 30% drawdown that at one point saw the asset erase all its gains for 2024, these investors have continued to pile funds into the ETFs.
Ether ETF Inflows Gather Momentum
Spot ether ETFs have continued their good form. On Tuesday, August 6, these products raked in over $98 million in inflows, setting a new record for their second-highest inflow day and marking the first time the funds have seen a consecutive run of inflows, as they had hauled in $49 million the day before.
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On Tuesday, the most significant inflows came from BlackRock’s ETHA with a staggering $110 million, bringing total inflows into the product since launch to about $870 million in just 11 days of trading, making it one of the top ten performing ETFs in 2024.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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