As a seasoned crypto investor with over a decade of experience under my belt, I find the recent moves by BlackRock and Fidelity to be a game-changer for the Ethereum market. The fact that these two financial giants are pouring half a billion dollars into Ether within just two days is not only significant but also validates the potential of Ethereum as a serious contender in the crypto space.
In the last two days, the leading providers of exchange-traded funds (ETFs), BlackRock and Fidelity, have collectively invested more than half a billion dollars in Ether.
As an analyst, I’ve noticed that over the past two days, both BlackRock and Fidelity have collectively purchased over half a billion dollars worth of Ethereum (ETH), as reported by Arkham Intelligence X on their December 12 post. This transaction was facilitated through Coinbase Prime.
“PAST 48 HOURS: BLACKROCK AND FIDELITY BOUGHT OVER HALF A BILLION USD OF ETH,”
Arkham mentioned on post
Additionally, it indicates that these ETF providers are becoming more active in managing their portfolios, as they’ve increased their holdings of Ether following SEC approval in May.
The iShares Ethereum Trust ETF (ETHA), issued by BlackRock, is currently the largest issuer, amassing a total investment of approximately $2.93 billion. Over the past eight consecutive days, it has also attracted inflows alongside Fidelity’s crypto-product.
The Fidelity Ethereum Fund (FETH) ranks as the second-largest distributor, amassing a total investment of approximately $1.35 billion. The single largest investment influx occurred on December 10th, amounting to $202 million.
BlackRock move on Ethereum
Lately, BlackRock is considering initiating direct trading of Ether through ETFs, with the necessary filing for commissions. The ETF known as ETHA, which is the sole one listed on the Nasdaq exchange, has requested regulatory approval for this new trading option.
It’s expected that the Securities and Exchange Commission (SEC) will reveal their decision in April 2025. However, other experts suggest that they may also require approval from regulators such as the Commodity Futures Trading Commission (CFTC), the Options Clearing Corporation (OCC), and potentially others before launching spot trading options.
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2024-12-12 03:04