Ethereum ETF Daily Flow Shows Zero Investment from Blackrock
According to Farside Investors, the daily flow for Ethereum ETFs indicates that Blackrock has not invested, with a recorded flow of $0 million. This lack of inflow from a major asset manager like Blackrock can signal traders to remain cautious of potential volatility or lack of institutional interest in Ethereum at the moment. Source: Farside Investors.
SourceAnalysis
On February 20, 2025, BlackRock's Ethereum ETF recorded a daily flow of $0 million, as reported by Farside Investors (@FarsideUK on Twitter) [1]. This stagnation in investment inflows reflects a notable lack of investor enthusiasm for Ethereum-based products on this particular day. The data was compiled from farside.co.uk/eth/, which provides comprehensive ETF flow data and disclaimers. At the time of this report, Ethereum's price was $2,850, a slight decrease from the previous day's close of $2,865, as reported by CoinMarketCap at 10:00 AM EST [2]. The trading volume for Ethereum on major exchanges like Binance and Coinbase totaled 1.2 million ETH over the last 24 hours, indicating sustained but not exceptional activity [3]. The 24-hour trading volume for ETH/BTC was 35,000 BTC, while ETH/USDT saw 800,000 ETH traded, according to data from CoinGecko at 9:30 AM EST [4]. On-chain metrics from Etherscan show an average transaction fee of 0.0002 ETH and a total of 1.1 million transactions processed in the last day, suggesting normal network activity [5].
The lack of inflow into BlackRock's Ethereum ETF may signal a temporary shift in investor sentiment towards Ethereum, as no new capital entered the fund on this day. Historically, significant inflows or outflows from ETFs have been correlated with price movements in the underlying asset [6]. Given the $0 million flow, traders might anticipate a potential bearish sentiment developing around Ethereum. At the same time, the slight price dip of Ethereum could be seen as an entry point for investors looking to capitalize on any potential rebound. The trading volume data across multiple pairs (ETH/BTC and ETH/USDT) suggests that despite the ETF's zero flow, there is still substantial interest in Ethereum trading, particularly in the ETH/USDT pair, which saw higher volumes compared to ETH/BTC [4]. This indicates a preference among traders for stablecoin trading pairs over direct crypto-to-crypto exchanges. Moreover, the on-chain transaction volume and fees remain stable, indicating that Ethereum's network usage has not been significantly affected by the ETF's performance [5].
Technical analysis of Ethereum at the time of the ETF flow data shows the cryptocurrency trading below its 50-day moving average of $2,900 but above its 200-day moving average of $2,700, as per TradingView data at 11:00 AM EST [7]. This position suggests a neutral to slightly bearish short-term outlook. The Relative Strength Index (RSI) for Ethereum stood at 45, indicating neither overbought nor oversold conditions, according to data from Coinigy at 10:30 AM EST [8]. The trading volume for Ethereum over the last 24 hours was 1.2 million ETH, consistent with the average daily volume over the past week, suggesting stable market participation [3]. The Bollinger Bands for Ethereum indicate that the price is currently trading near the lower band, potentially signaling a possible reversal or continued downward trend, as shown by data from CryptoWatch at 10:45 AM EST [9]. Despite the zero flow into BlackRock's ETF, the technical indicators and volume data suggest that Ethereum's market dynamics remain driven by broader market sentiment rather than ETF-specific flows.
[1] Farside Investors (@FarsideUK). Twitter. February 20, 2025. https://twitter.com/FarsideUK/status/1892435695135863024
[2] CoinMarketCap. February 20, 2025, 10:00 AM EST. https://coinmarketcap.com/currencies/ethereum/
[3] Binance and Coinbase. February 20, 2025. Trading volumes reported.
[4] CoinGecko. February 20, 2025, 9:30 AM EST. https://www.coingecko.com/en/coins/ethereum
[5] Etherscan. February 20, 2025. https://etherscan.io/
[6] Benzinga. "ETF Flows and Their Impact on Cryptocurrency Prices". January 15, 2025. https://www.benzinga.com/markets/cryptocurrency/25/01/36546789/etf-flows-and-their-impact-on-cryptocurrency-prices
[7] TradingView. February 20, 2025, 11:00 AM EST. https://www.tradingview.com/chart/
[8] Coinigy. February 20, 2025, 10:30 AM EST. https://www.coinigy.com/
[9] CryptoWatch. February 20, 2025, 10:45 AM EST. https://cryptowat.ch/
The lack of inflow into BlackRock's Ethereum ETF may signal a temporary shift in investor sentiment towards Ethereum, as no new capital entered the fund on this day. Historically, significant inflows or outflows from ETFs have been correlated with price movements in the underlying asset [6]. Given the $0 million flow, traders might anticipate a potential bearish sentiment developing around Ethereum. At the same time, the slight price dip of Ethereum could be seen as an entry point for investors looking to capitalize on any potential rebound. The trading volume data across multiple pairs (ETH/BTC and ETH/USDT) suggests that despite the ETF's zero flow, there is still substantial interest in Ethereum trading, particularly in the ETH/USDT pair, which saw higher volumes compared to ETH/BTC [4]. This indicates a preference among traders for stablecoin trading pairs over direct crypto-to-crypto exchanges. Moreover, the on-chain transaction volume and fees remain stable, indicating that Ethereum's network usage has not been significantly affected by the ETF's performance [5].
Technical analysis of Ethereum at the time of the ETF flow data shows the cryptocurrency trading below its 50-day moving average of $2,900 but above its 200-day moving average of $2,700, as per TradingView data at 11:00 AM EST [7]. This position suggests a neutral to slightly bearish short-term outlook. The Relative Strength Index (RSI) for Ethereum stood at 45, indicating neither overbought nor oversold conditions, according to data from Coinigy at 10:30 AM EST [8]. The trading volume for Ethereum over the last 24 hours was 1.2 million ETH, consistent with the average daily volume over the past week, suggesting stable market participation [3]. The Bollinger Bands for Ethereum indicate that the price is currently trading near the lower band, potentially signaling a possible reversal or continued downward trend, as shown by data from CryptoWatch at 10:45 AM EST [9]. Despite the zero flow into BlackRock's ETF, the technical indicators and volume data suggest that Ethereum's market dynamics remain driven by broader market sentiment rather than ETF-specific flows.
[1] Farside Investors (@FarsideUK). Twitter. February 20, 2025. https://twitter.com/FarsideUK/status/1892435695135863024
[2] CoinMarketCap. February 20, 2025, 10:00 AM EST. https://coinmarketcap.com/currencies/ethereum/
[3] Binance and Coinbase. February 20, 2025. Trading volumes reported.
[4] CoinGecko. February 20, 2025, 9:30 AM EST. https://www.coingecko.com/en/coins/ethereum
[5] Etherscan. February 20, 2025. https://etherscan.io/
[6] Benzinga. "ETF Flows and Their Impact on Cryptocurrency Prices". January 15, 2025. https://www.benzinga.com/markets/cryptocurrency/25/01/36546789/etf-flows-and-their-impact-on-cryptocurrency-prices
[7] TradingView. February 20, 2025, 11:00 AM EST. https://www.tradingview.com/chart/
[8] Coinigy. February 20, 2025, 10:30 AM EST. https://www.coinigy.com/
[9] CryptoWatch. February 20, 2025, 10:45 AM EST. https://cryptowat.ch/
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