CandleFocus Ethereum ETFs face rocky start but retain strong growth potential affirms Bitwise CEO
2024-10-21
Author: Content Editor
Bitwise CEO Hunter Horsley has addressed the lower trading volumes and inflows of spot Ethereum exchange-traded funds (ETFs) compared to their Bitcoin counterparts. While Ethereum ETFs have underperformed, Horsley stated that the funds from his firm, BlackRock, and Fidelity are still among the fastest-growing new ETPs this year. The data shows that BlackRock's ETHA has attracted $1.45 billion in net inflows, while Fidelity's FETH and Bitwise's ETHW have seen inflows of $498 million and $321 million, respectively. Horsley attributed the slow start of Ethereum ETFs to their timing of launch during a slow investment period and a relatively flat market. He also addressed concerns about the lack of staking features and expressed confidence in the long-term potential of Ethereum ETPs.
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