BlackRock dwarfs competitors with $150 million Ethereum purchase in a day
BlackRock’s dominance of the spot Ethereum (ETH) exchange-traded fund (ETF) was on display on September 4, when the world’s largest investment firm dwarfed competitors in the market. In this case, BlackRock recorded $148.8 million in net Ethereum ETF inflows, making it the sole major buyer and far outpacing rivals, according to data retrieved by Finbold from Coinglass . In contrast, several competitors faced heavy redemptions. Particularly, Fidelity led the sell-off with $216.7 million in outflows, followed by Bitwise with $45.7 million. Grayscale’s ETHE shed $26.4 million, while its separate Ethereum Trust saw another $6.4 million in redemptions. On the other hand, VanEck, Franklin, and Invesco also posted smaller losses of $17.2 million, $1.6 million, and $2.1 million, respectively. Overall, the market registered $167.3 million in net withdrawals across all issuers despite BlackRock’s surge. Spot ETH ETF net inflows. Source: Coinglass Ethereu...