Ethereum ETF: the record figure that puts Fidelity ahead of BlackRock and all the others

The asset management giant Fidelity takes the lead over its rival BlackRock in the race for Ethereum ETFs, with capital inflows reaching 5 million dollars. This remarkable performance comes after a two-day period with no notable activity, demonstrating a significant resurgence of interest from institutional investors in the second-largest cryptocurrency.

A close battle between the giants of traditional finance

According to the latest data from Farside Investors, Fidelity made a decisive advance on October 28 with its Ethereum ETF (FETH), surpassing BlackRock by 2.7 million dollars in terms of daily inflows. This performance comes after two days of pause in capital inflows, demonstrating the resilience of Fidelity’s product appeal among institutional investors.

The dominance of Fidelity occurs in a context where most Ethereum ETF issuers are struggling to attract capital. Major players such as Bitwise (ETHW), 21Shares (CETH), VanEck (ETHV), and Invesco (QETH) have not recorded any significant activity for three consecutive days.

More concerning, Grayscale, long considered an industry pioneer, is facing massive capital outflows, losing 8.4 million dollars after a previous hemorrhage of 19.2 million dollars. Analysts point to high management fees as the main factor behind this disaffection.

An Ethereum ETF market under pressure despite rising prices

The entire Ethereum ETF sector is showing a negative balance with a net outflow of 1.1 million dollars, mainly due to Grayscale’s massive withdrawals. This trend contrasts with Ethereum’s performance in the spot market, where the cryptocurrency appreciates by 4.12% to reach 2,629.70 dollars, driven by a trading volume increase of 48.48% to 21.42 billion dollars.

The relative stability of Fidelity since October 10, alternating between moderate inflows and zero flows, reflects a strategy that seems to be paying off in the face of struggling competition. This dynamic suggests a gradual consolidation of its dominant position in the Ethereum ETF market.

Fidelity’s success illustrates the growing maturity of the crypto ETF market, where reputation and institutional expertise play a decisive role in investors’ choices. As the market continues to evolve, Fidelity’s ability to maintain this positive momentum will be closely scrutinized by the entire sector.