US exchange-traded funds directly investing in Ether attracted $107 million in net inflows on the first day of trading. Writes UNN with reference to Bloomberg.Bitcoin.
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US exchange-traded funds investing in Ether attracted a total net inflow of $107 million on the first day of trading. This demonstrates the growing demand for cryptocurrencies other than Bitcoin.
According to Bloomberg, BlackRock Inc.'s Ethereum Trust registered the largest volume of subscriptions at $267 million, followed by Bitwise Ethereum with $204 million and Fidelity Ethereum Fund with $71 million.
More than $1 billion worth of shares have been sold in nine ETFs that were launched six months after U.S. regulators authorized the first spot Bitcoin ETFs in the United States. These new funds have attracted net inflows of more than $17 billion over the past year.
Ether, which is the second most popular digital asset and is widely used for blockchain-based financial services, has a market capitalization that is less than a third of Bitcoin's market value. This gives rise to forecasts of lower inflows compared to Bitcoin ETFs.
Recall
The value of cryptocurrencies is affected by a number of specific factors. The expert explained what halving is and how this factor affects the valueof bitcoin, first of all.