Ethereum (ETH) exchange-traded funds (ETFs) saw remarkable adoption in August, drawing $3.87 billion in net inflows overall.
However, institutional crypto strategies are shifting once again in favor of Bitcoin (BTC) as a digital hedge.
Namely, on September 3, BlackRock unloaded $151.39 million worth of ETH while purchasing an additional $289.84 million worth of BTC, according to the data retrieved from SoSoValue.
BlackRock ETH inflows. Source: SoSoValue
Bitcoin ETFs dominating once again
As mentioned, the move is not a one-off incident, but rather reflects a broader recalibration in institutional portfolios in a period of increasing macro uncertainty.
Indeed, Bitcoin ETFs also recorded $332.7 million in net inflows on Tuesday, September 2, as well after losing around $751 million last month. The accumulation was again led by Fidelity and BlackRock, which reported $132.7 million and $72.8 million in additions.
A key driver appears to be expectations around U.S. moneta
We współpracy z: https://finbold.com/blackrock-makes-a-monster-400-million-crypto-move/
