BlackRock’s ETHA and Fidelity’s FETH accounted for over 98% of the total exchange-traded funds inflows as the Ethereum ETF market closed green.

BlackRock and Fidelity dominating ETF inflows

Farside Investors' data reveal that BlackRock's ETHA contributed $276.2 million, while Fidelity’s FETH recorded $27.5 million. This is as the total Ethereum ETF inflow stood at $307.8 million. The current price of Ethereum is $2,759, which amounts to a total of 111,250 ETH.

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ETHA rebounded from its zero inflow recorded the previous day to post the highest inflow of $276 million. The unprecedented inflow signals renewed interest from investors for BlackRock’s offering on the Ethereum market.

Interestingly, BlackRock has not registered any outflow since Jan. 20 and is outperforming its Bitcoin counterpart. The asset manager’s Ethereum ETF has maintained steady interest from institutional players and even witnessed three consecutive days of inflows in the last days of January.

Fidelity’s FETH secured $27.5 million of market interest to register a second consecutive inflow day. However, between Jan. 20 and now, Fidelity has recorded an outflow of $68.5 million.

The only other contributor was Bitwise’s ETHW, which had $4.1 million in the ETF pool. All other asset managers registered zero inflows.

Ethereum’s price struggles to reclaim $3,000

The Ethereum ecosystem has received attention recently, and stakeholders are anticipating new developments. Vitalik Buterin, Ethereum cofounder, has given the community some assurances as to the upcoming Petra hard fork, which will be able to double the capacity of layer-2 networks.

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Analysts believe this information might have fueled renewed interest from institutional investors. Some believe ETH is in consolidation and could break out anytime soon. Hence, these players are betting on the coin now at the current price.

As of writing time, the ETH price was changing hands at $2,773.90, a 1.82% increase as the coin rebounds from its previous crash. ETH has battled to reclaim the $3,000 mark in the last seven days but has not succeeded.

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