Analysis Reveals Growing Institutional Interest in Ethereum ETFs
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Institutional investors are warming up to Ethereum ETFs. Millennium hedge fund accounted for over 2% of the total value of BlackRock’s ETHA. Growing ETF demands lead to surging ETH prices. Institutional investors are warming up to Ethereum ETFs, as data from Kaiko Research, a digital assets market analysis platform, suggests. A recent report revealed that several traditional finance firms, including Millenium, have invested in ETH ETFs since their launch in July. The institutions are here, at least when it comes to crypto ETFs. Traditional finance firms, including hedge fund giant Millennium, have invested in $ETH ETFs since launching in July. pic.twitter.com/Sf49bQdwQa — Kaiko (@KaikoData) November 28, 2024 Kaiko’s report shows that investment advisors make up most of the BlackRock ETHA’s top fifteen holders, with 11 out of the top 15. However, Millennium stands out as the most prominent institutional investor. In the context of Kaiko’s analysis, the Millenium hedge fund accounted for over 2% of the total value of BlackRock’s ETHA. All other top holders of the ETH ETF product have less than 1% of the volume in their portfolio. Read also : ETH ETF Approval: The Catalyst for Altcoin Season 2024? In the meantime, surging institutional investors’ activity has spurred the Ethereum ETF ecosystem, causing a notable increase in the products’ netflow. The outflow from Grayscale’s ETHE has significantly reduced, coupled with the cited influx of institutional investors. Those are the factors that led to the ecosystem’s recent resurgence. Meanwhile, there was a surge in ETH Futures activity on the CME Group. Kaiko Research considers the surge a significant signal that investors are warming up to ETF products. ETH’s price experienced the positive energy around the ecosystem by surging nearly 12% on Wednesday. Read also : Bitcoin and the Altcoin Season Index Explained The recent price surge saw the…
Filed under: News - @ November 28, 2024 6:18 pm