On October 28, Fidelity Investments’ spot ether ETFs recorded a significant influx of investment funds of more than $5 million. The positive dynamics allowed Fidelity to outpace its closest competitors, including funds from BlackRock, which raised capital at a level close to $2.
The difference between the two ETFs was notable as Fidelity’s inflows outpaced BlackRock by $2.7 million, which Farside said demonstrates the continued appeal of Fidelity funds to institutional investors.
The remaining competitors – Bitwise (ETHW), 21Shares (CETH), VanEck (ETHV), Invesco (QETH), Grayscale Mini Trust (ETH) and Franklin Templeton (EZET) – reported zero inflows over the past three days.
The management company Grayscale Investments faced the opposite scenario and an outflow of funds. For example, Grayscale Ethereum Trust (ETHE) reported that during the same period, investors withdrew more than $27 million from the fund.
“Fidelity’s strengthening competitive position may indicate a solid strategy and investor confidence in the company’s management,” Farside experts explained.
Previously, Taiwan’s Financial Supervisory Commission (FSC) allowed large investors to invest money in foreign cryptocurrency funds (ETFs) – in cases where the funds meet the requirements of the Taiwanese regulator.
Source: Bits
I am an experienced journalist, writer, and editor with a passion for finance and business news. I have been working in the journalism field for over 6 years, covering a variety of topics from finance to technology. As an author at World Stock Market, I specialize in finance business-related topics.
