BlackRock's Ethereum ETF Surpasses $1 Billion in Net Inflows

BlackRock's Ethereum ETF Reaches Historic Milestone in Billions

According to finanzen.net, BlackRock has achieved a significant milestone in the cryptocurrency world. The company's ETHA-ETF, based on the digital currency Ethereum, has become the first Ethereum ETF globally to surpass one billion US dollars in net inflows. This achievement could indicate growing interest from institutional investors in cryptocurrencies and specifically Ethereum-based products.

The data from SoSoValue reveals that BlackRock's ETHA ETF amassed 1.01 billion USD in net inflows so far. Currently, only Grayscale’s Mini Ether Trust (ETH) and Ethereum Trust (ETHE) outperform it with approximately 239 million USD and 2.6 billion USD respectively.

September Outlook: Price Forecast for Bitcoin and Ethereum

BTC-ECHO reports that both Bitcoin and Ethereum have recently experienced notable declines but are expected to see changes this September. Historically, September is known as a challenging month for Bitcoin performance-wise; however, it often sets up positive returns for subsequent months.

Crypto analyst Ryan Lee explains that while Ether dropped by about 20% since May and Bitcoin fell around 5%, there might be potential gains ahead if certain market factors align favorably during September.

Billionaires Prefer These Cryptocurrencies Now

Börse Online highlights new findings showing which cryptocurrencies are currently favored by billionaires like Stanley Druckenmiller and Paul Tudor Jones. According to Yahoo Finance data analyzed through billionaire filings (13F), over eight billion dollars were invested into Bitcoin since the beginning of the year while roughly one billion flowed into Ethereum.

This trend underscores how high-net-worth individuals view these assets as valuable components of diversified portfolios due to their similarities with gold or hedging capabilities against geopolitical risks.

Ethereum Layer-1 Network Revenue Collapses: What Is The Reason?

A report from Cointelegraph Deutschland indicates that despite an increase in monthly active users on Layer-2 solutions doubling daily transactions since March 2024—Layer-1 network revenue plummeted nearly entirely within six months post-Dencun upgrade implementation aimed at reducing transaction fees significantly across layers two networks competing fiercely among themselves driving down costs further still impacting base layer usage adversely overall negatively affecting demand ultimately leading lower prices below $3k mark presently observed today reflecting broader trends ongoing throughout ecosystem generally speaking right now too many LTs available relative actual need marketplace according CEO Anoma Adrian Brink estimates tenfold excess capacity current state affairs contributing downward pressure pricing dynamics seen lately industry-wide contextually relevant analysis provided herein above mentioned sources cited accordingly herewith included references therein contained 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