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The post <a href="https://coinpedia.org/news/ethereum-etfs-launch-with-a-bang-blackrock-and-grayscale-move-millions-in-eth/">Ethereum ETFs Launch with a Bang: BlackRock and Grayscale Move Millions in ETH</a> appeared first on <a href="https://coinpedia.org">Coinpedia Fintech News</a> 
Just seven months after the first spot Bitcoin ETFs were launched, the Securities and Exchange Commission (SEC) approved nine <a href="https://coinpedia.org/news/ethereum-etf-inflow-shifts-market-eth-price-drops-to-3097/" target="_blank" rel="noreferrer noopener">Ethereum ETFs</a> for trading. On the first day of trading, BlackRock’s Ethereum ETF wallet received a large transfer from Coinbase Prime. At the same time, <a href="https://app.coinpedia.org/company/grayscale" target="_blank" class="profile-details">grayscale</a> <img decoding="async" src="https://image.coinpedia.org/wp-content/uploads/2022/11/10122626/info_icon.svg" alt="information" class="info-icons"> <a href="https://app.coinpedia.org/company/grayscale" target="_blank"><img decoding="async" src="https://image.coinpedia.org/wp-content/uploads/2022/11/09190601/link.svg" alt="link"></a> <a href="https://grayscale.com" target="_blank" rel="nofollow noopener"> <img decoding="async" src="https://image.coinpedia.org/app_uploads/profile/1657785626836pw8wlqaxaz.png" class="company_logo_img" alt="profile company logo" title="profile company logo"></a> grayscale Lending &amp; Borrowing <a href="https://grayscale.com" target="_blank" rel="nofollow noopener"><img decoding="async" src="https://image.coinpedia.org/wp-content/uploads/2022/11/10161442/globe.svg" alt="globe icon" title="globe icon"></a> was actively shifting Ethereum in and out of the same platform. 
<h2 class="wp-block-heading" id="h-blackrock-hold-79699-eth-nbsp">BlackRock Hold 79699 ETH&nbsp;</h2> 
According to Lookonchain, <a href="https://app.coinpedia.org/company/blackrock" target="_blank" class="profile-details">blackrock</a> <img decoding="async" src="https://image.coinpedia.org/wp-content/uploads/2022/11/10122626/info_icon.svg" alt="information" class="info-icons"> <a href="https://app.coinpedia.org/company/blackrock" target="_blank"><img decoding="async" src="https://image.coinpedia.org/wp-content/uploads/2022/11/09190601/link.svg" alt="link"></a> <a href="https://www.blackrock.com/corporate/" target="_blank" rel="nofollow noopener"> <img decoding="async" src="https://image.coinpedia.org/app_uploads/profile/1659783579328fcyuhrtzma.png" class="company_logo_img" alt="profile company logo" title="profile company logo"></a> blackrock Fintech SolutionAdvisoryInvestment platform <a href="https://www.blackrock.com/corporate/" target="_blank" rel="nofollow noopener"><img decoding="async" src="https://image.coinpedia.org/wp-content/uploads/2022/11/10161442/globe.svg" alt="globe icon" title="globe icon"></a> Ethereum ETF wallet received a hefty 76,669 ETH, valued at approximately $262.4 million, from Coinbase Prime.&nbsp; 
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 BlackRock(iShares) Ethereum ETF wallet received 76,669 <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$ETH</a>($262.4M) from <a href="https://twitter.com/hashtag/CoinbasePrime?src=hash&amp;ref_src=twsrc%5Etfw">#CoinbasePrime</a> 10 hours ago. According to <a href="https://twitter.com/hashtag/BlackRock?src=hash&amp;ref_src=twsrc%5Etfw">#BlackRock</a>'s official website, <a href="https://twitter.com/hashtag/BlackRock?src=hash&amp;ref_src=twsrc%5Etfw">#BlackRock</a> currently holds 79,699 <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$ETH</a>($277M).<a href="https://t.co/sefS6WTlHz">https://t.co/sefS6WTlHz</a> <a href="https://t.co/pvEGrWxvT9">pic.twitter.com/pvEGrWxvT9</a>— Lookonchain (@lookonchain) <a href="https://twitter.com/lookonchain/status/1816313465935651213?ref_src=twsrc%5Etfw">July 25, 2024</a>
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As per BlackRock’s official website, the company now holds a total of 79,699 ETH, amounting to around $277 million. However, this transaction reflects BlackRock’s strategic interest in expanding its Ethereum assets through ETF offerings. 
<h2 class="wp-block-heading" id="h-grayscale-s-recorded-massive-outflow">Grayscale’s Recorded Massive Outflow</h2> 
At the same time, Grayscale has made notable Ethereum transfers involving Coinbase Prime. In the last 24 hours, <a href="https://x.com/lookonchain/status/1816315780398735451" target="_blank" rel="noreferrer noopener nofollow">Grayscale transferred 140,044 ETH</a>, worth approximately $485.6 million, to Coinbase Prime.&nbsp; 
Additionally, it received 4,382 ETH, valued at $14.8 million, resulting in a net outflow of 135,662 ETH, worth $470.8 million. Grayscale’s website reveals that the company currently holds a substantial 2,489,075 ETH, valued at $7.9 billion. 
These moves by BlackRock and Grayscale show how major financial companies are actively managing their Ethereum investments.&nbsp; 
Bloomberg ETF analyst Eric Balchunas noted that U.S. spot ETH ETFs reached a trading volume of $1.08 billion on their first day, which is about 23% of the volume seen by spot Bitcoin ETFs when they launched. The price of ETH dipped slightly that day. 
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 First day of the ETHness stakes done. The group's volume was just shy of $1.1 billion. My *prediction* on flows for the day is anywhere from $125 million to $325 million but will depend on how many investors these firms had lined up. We'll know some official flows in a few hours <a href="https://t.co/p6Wjty8VyY">https://t.co/p6Wjty8VyY</a> <a href="https://t.co/1gYYrU1CW1">pic.twitter.com/1gYYrU1CW1</a>— James Seyffart (@JSeyff) <a href="https://twitter.com/JSeyff/status/1815849216012333400?ref_src=twsrc%5Etfw">July 23, 2024</a>
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<h2 class="wp-block-heading" id="h-ethereum-price-fall-by-7">Ethereum Price Fall By 7%</h2> 
The Ethereum price has faced strong selling pressure, dropping over 7% in the last 24 hours <a href="https://markets.coinpedia.org/ethereum/" target="_blank" rel="noreferrer noopener">falling to $3,190</a>. Additionally, trading volume has decreased by 20%, hovering around $20 billion, with a market cap of $383 billion. 
Also Read: <a href="https://coinpedia.org/news/why-ethereum-price-is-down-today-analyzing-eth-price-correction-post-etf-launch/" target="_blank" rel="noreferrer noopener">Why Ethereum Price is Down Today? Analyzing ETH Price Correction Post-ETF Launch</a>

Ethereum ETFs Launch with a Bang: BlackRock and Grayscale Move Millions in ETH

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