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The BlackRock iShares Ethereum Trust (ETHA) has continued outperforming its peers after recording a 14-day inflow streak. Per data from Farside Investors, ETHA recorded an $81.9 million inflow on Dec. 18, bringing its total inflow to $3.446 billion.
BlackRock Ethereum ETF setting pace
BlackRock has always outperformed its peers across its suite of crypto ETF products. Since Ethereum ETF products got approval from the United States Securities and Exchange Commission, Fidelity appeared to take the lead in inflows relative to BlackRock.
Gamza KhanzadaevHowever, the tide has changed over the past two weeks. While both BlackRock and Fidelity’s FETH scored inflows until the latter broke the trend with no flow at all on Dec. 18, the former outshone the latter in terms of flow value.
With the $3.446 billion that ETHA has recorded, Fidelity’s FETH currently boasts $1.386 billion. BlackRock has propped up the Ethereum ETF market at a time when expectations for the coin have started soaring despite intense market volatility.
This sustained interest from corporate investors is considered good for Ethereum. With capital flow and ETH purchases, the coin might see an increase in price in the long run, effectively helping to kickstart the much-anticipated altcoin season.
Ethereum price outlook
Inflows into the Ethereum ETF market have yet to do much to sustain price growth over the past week.
Dan BurginAs of this writing, Ethereum's price has decreased by 5.09% to $3,672.86. While the causative factor behind the current price slip-off is tied to the Federal Reserve chairman's dismissal of a strategic Bitcoin reserve for the country, the ETF market could not prevent the sell-offs.
There are projections of an imminent recovery in Ethereum's price moving forward. Despite close ties to ETF performance, the Ethereum network brandishes other major fundamentals that can help fuel a rebound.
Gamza Khanzadaev
Yuri Molchan
Dan Burgin
Alex Dovbnya
Vladislav Sopov