- Grayscale acquires $11.98M ETH, outperforming other ETFs.
- Ethereum ETFs reach $6.39B total assets, market inflows rise.
- ETH trades at $1,833.52, daily volume up by 4.50%.
According to a recent post on X by Ash Crypto, Grayscale has acquired Ethereum worth approximately $11,980,000, reflecting increased market action and inflow count in the ETF panel. This has triggered it rank to the third position in terms of net assets, totaling $889.61 million.
After the recent Grayscale purchase, the product has cumulative inflows amounting to $616.98 million. ETH’s market price is at $17.38, gaining 3.27%, and its daily trading volume is $36.13 million.
Institutional Interest Boosts Ethereum
This substantial Ethereum acquisition by Grayscale indicates strong institutional activity in digital assets. To further support this, the recent massive acquisition by Grayscale has caused a general market movement in all ETH ETFs. To track the current reaction, SoSoValue updates on May 1 notes that the daily net inflow for Ethereum products totals $6.49 million, bringing cumulative inflows to $2.49 billion.
Meanwhile, the total traded value for these products stands at $240.71 million. Net assets across all Ethereum investment products have reached $6.39 billion, accounting for 2.88% of Ethereum’s overall market capitalization.
The largest Ethereum product by net assets is BlackRock’s ETHA, listed on NASDAQ, holding $2.32 billion in net assets. ETHA’s cumulative net inflow reached $4.18 billion, but on May 1, its daily inflow remained at zero. ETHA’s market price stands at $13.96, marking a daily increase of 3.25%, with $116.38 million traded.
Fidelity Joins the Gain List while Others Remain Stable
Fidelity’s FETH listed on CBOE has net assets totaling $783.14 million, accumulating net inflows of $1.46 billion. FETH saw a daily inflow of $6.47 million, closing the day at $18.44, up 3.36%, and volume of $19.85 million.
Bitwise’s ETHW, also trading on NYSE, holds net assets of $172.20 million with cumulative inflows of $317.01 million. ETHW saw zero inflows for May 1, ending the session at $13.23, a daily increase of 3.20%. VanEck’s ETHV maintains net assets worth $82.66 million, with total cumulative inflows at $133.67 million. ETHV experienced zero inflows on the day, trading at $27.02, marking a daily gain of 3.35%.
Franklin’s EZET on CBOE, with net assets of $21.78 million, has cumulative inflows totaling $36.50 million. EZET recorded zero inflows on May 1, ending at $14.02, up 3.39%. Invesco’s QETH product gained 4.88%, priced at $18.43, having total net assets at $15.70 million with no inflows recorded.
Grayscale Purchase and Ethereum Potential Uptick
The purchase comes amid expectations that ETH could soon reach the crucial $2,000 price point. Ethereum has recently hovered around the $1,900 mark, showing limited volatility in recent weeks.
At the time of writing, CoinMarketCap data indicates that the price reads at $1,833.52, noting a 1.28% price increase. Its market cap stands at $221.36 billion, marking an uptick of 1.29% within the same period. ETH’s 24-hour trading volume reached $15.79 billion, rising by 4.50%.
Currently, Ethereum’s fully diluted valuation (FDV) closely mirrors its market cap at approximately $221.38 billion. The circulating and total supply of Ethereum both stand at 120.73 million ETH. Ethereum’s volume-to-market cap ratio is 7.04%. Over the observed period, the token price peaked slightly above $1,860 before adjusting downward to the present value.
