Had Decreased, ETF Ethereum Again Recorded A Clean Entry Flow Of IDR 89 Billion

Ethereum ETF again recorded a net entry flow of IDR 89 billion (Photo; Doc. Bitcoinethereumnews)

JAKARTA - After nine consecutive days of experiencing a net outflow, the spot-based Exchange-Trad Funds (ETF) finally recorded a net inflow of 5.8 million US Dollars (around Rp89 billion). This is the first positive signal after a long period of selling pressure that hit the Ethereum-based financial product.

According to data from SoSoValue, ETF ETHA managed by BlackRock recorded the largest inflow, reaching 8.4 million US Dollars (around Rp129 billion). This places BlackRock as the main winner in the midst of market movements that are again benefiting Ethereum. In addition, Fidelity's ETF FETH also showed a positive performance with an inflow of US$1.3 million (around Rp20 billion), which also boosted net inflows in the market.

However, not all Ethereum ETFs achieved positive results. Grayscale's ETF ETHE actually experienced an outflow of US$3.8 million, suggesting that there was still significant selling pressure even though the overall trend began to turn around.

According to Crypto News information, the nine-day net outflow period experienced by ETF Ethereum has been the longest since these products started trading last month. In the first five weeks since its launch, ETF Ethereum has recorded a net flow of nearly 500 million US Dollars (approximately IDR 7.7 trillion). Analysts from JP Morgan previously estimated that Ethereum ETFs might experience weaker currents compared to Bitcoin ETFs, given the absence of lower staking and liquidity features.

Meanwhile, spot-based Bitcoin ETF also faces challenges with total net outflows reaching 105 million US Dollars (approximately IDR 1.6 trillion) on Wednesday. Grayscale's GBTC ETF recorded an outflow of 7.979 million US Dollars (approximately IDR 122 billion), followed by Grayscale mini ETF BTC with 8.771 million US Dollars (approximately IDR 135 billion), and ARKB with 59.27 million US Dollars (approximately IDR 913 billion).

Dalam perkembangan terkait, BlackRock terus memperluas penawarannya dalam dunia kripto dengan meluncurkan ETF Ethereum di bursa saham Brasil, B3, pada 28 Agustus 2024. ETF yang diberi code ticker ETHA39 ini tersedia bagi investor retel maupun institusi di Brasil. Produk ini ditradgangkapt melalui depositary receipt, sebuah jenis securitas yang merepresentasi saham dalam perusahaan atau dana asing, yang umumnya ditrad dalam mata uang lokal dan didukung oleh aset asli.

This ETF is sold at a price of one-third of its original value for the Brazilian market, making it more accessible to local investors. The cost of management is set at 0.25% per year, consistent with tariffs in the US, but will be reduced to 0.12% during the first year or until the funds reach 2.5 billion US Dollars (approximately IDR 38.5 trillion) in managed assets.

The move follows the launch of the iShares Bitcoin Trust from BlackRock in Brazil previously, which was also offered via depositary receipt. "IBIT is the fastest growing ETF in history over a three-month period, showing significant demand from the market," said Cristiano Castro, director of BlackRock in Brazil.