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Asset management giant Fidelity leads rival BlackRock in the Ethereum ETF race, with inflows reaching $5 million. This remarkable performance comes after two days of no notable activity and signals a significant resurgence in institutional investor interest in the second-largest cryptocurrency.
Close battle between traditional financial giants
Fidelity made decisive progress with its Ethereum ETF (FETH) on October 28, outperforming BlackRock in daily inflows by $2.7 million, according to the latest data from Farside Investors. This performance came after a two-day pause in capital inflows, demonstrating the resilience of Fidelity's product appeal among institutional investors.
Fidelity's advantage comes at a time when most Ethereum ETF issuers are struggling to attract capital. Major companies such as Bitwise (ETHW), 21Shares (CETH), VanEck (ETHV), and Invesco (QETH) have not recorded any noticeable activity for three consecutive days.
More worryingly, Grayscale, long considered an industry pioneer, is facing a major capital outflow, with losses of $8.4 million following a previous outflow of $19.2 million. That's what I'm doing. Analysts point to high management fees as a major factor in this dissatisfaction.
Ethereum ETF market under pressure despite rising prices
The entire Ethereum ETF sector was in negative territory with net outflows of $1.1 million, primarily due to large Grayscale withdrawals. This trend is in contrast to Ethereum's performance in the spot market, where the cryptocurrency rose 4.12% to $2,629.70 as trading volume increased by 48.48% to $21.42 billion.
Fidelity's relative stability since October 10 has alternated between moderate and zero inflows, reflecting a strategy that appears to be paying off in the face of struggling competition. There is. This move suggests that its dominant position in the Ethereum ETF market is gradually strengthening.
Fidelity's success demonstrates the growing maturity of the crypto ETF market, where reputation and institutional expertise play a decisive role in investor selection. Fidelity's ability to maintain this positive momentum will be closely scrutinized by the industry as the market continues to evolve.
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Disclaimer
The views, ideas and opinions expressed in this article are solely those of the author and should not be construed as investment advice. Please do your own research before making any investment decisions.
