Quick Summary:
- REX Shares filed Solana and Ether Staking ETFs, which puts a lot of buzz in the crypto ETF market.
- The Ethereum ETFs were revealed to be recording 10 consecutive days of inflow despite ETH price declining 4 percent.
- The BlackRock iShares Ethereum Trust (ETHA) tops the ETF market in terms of net inflows of $70.2M.
- Outflows of BTC ETF are $358.6M, and Ether staking ETFs are becoming popular.
- According to Coinglass weekly statistics, Ether ETF prices grew with 5.44% led by ETHA.
- The use of in-kind redemption by BlackRock they have included in their amended version of S-1 improves performance of ETF.
- In the following weeks, analysts anticipate the launching of Ether staking ETFs.
- The ETH spot price is set at 2517, and it is affected by the overall fall in Bitcoin.
The Reason Why REX Shares Solana and Ether Staking ETF Is Important
The filing of Solana and Ether staking ETF products by REX Shares has sparked up the activity in the crypto ETF arena. The step has drawn significant institutional curiosity besides encouraging a boom in fund inflow into Ethereum ETFs.
ETF analyst James Seyffart expects that these new staking products might be introduced during the next few weeks, which would create a new channel to the investors of crypto ETFs.
Ethereum ETF Riding on a Winning Streak
Ether-based ETFs have been resilient despite the decrease of Ethereum price by 4 percent. As a matter of fact, Ether ETFs have experienced net inflows over a period of 10 days, a major shift in the mindset of investors.
The report and presentation of SoSoValue indicate that although BTC ETFs had experienced outflows of $358.6 million, Ethereum ETFs were showing positive figures.
BlackRock ETHA is the Top Performer in Our Ranking List
As it stands, Ether ETF is already being overwhelmingly led by BlackRock with its iShares Ethereum Trust (ETHA) garnering an impressive volume of net inflows, totaling to $70.2 million only yesterday. Its recent S-1 filing amendment where it brought in in-kind redemption has played a key role towards its performance leap.
Consequently, Coinglass records a 5.44 percent weekly increase on ETHA than any other serious Ether ETF available in the market.
Price of ETH Remains Behind ETFs
Ironically, as Ether ETFs rise to the heights, spot market of ETH remains unresponsive. At the moment, Ethereum is exchanging at $2,517 and it has posted a record of 4 percent decline within a day. Much of this is because ETFs trading volume is relatively low as they symbolize only 1.5 percent of the daily volume in the ETH spot market.
In addition, the 2.28 percent decrease in Bitcoin within the past 24 hours is still dragging the entire crypto industry to a downward trend, which features Ethereum and other altcoins.
Expert Comment: Institutional Optimism Is On The Increase
According to an ETF expert and senior analyst at Bloomberg James Seyffart, REX Shares filing comes at a time when it should attract more institutional interest in crypto staking products. This optimism is catalyzed by the expectations of the maiden Solana and Ether staking ETF, although the prices on the spot are volatile.
What’s Next?
As more institutions adopt ETFs, and regulation over ETFs improve, as well as innovations in securing ETFs such as in-kind redemptions and staking of Ethereum, Ethereum ETFs will enter their next stage of growth. Provided that it is given the go-ahead, the staking ETF offered by REX Shares may turn out to be a ground-breaking force within the entire crypto investment landscape.