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BlackRock Leads Ethereum ETF Surge Amid Key BTC Breakout

Guavy AI Editorial Team
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BTC ETH FET ETHW TET
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Ethereum ETF funds saw significant inflows on August 5, totaling $60.86 million. BlackRock's ETHA led the way, bringing in $50.34 million, making it the strongest performer among listed funds for the day.

Fidelity's FETH added $2.87 million, while Bitwise's ETHW recorded $1.37 million and 21Shares' TETH received $1.34 million. BlackRock's staked Ethereum fund, ETHB, also attracted $4.94 million.

The influx of money came as the ETH/BTC chart tested a key breakout level that has not been broken in about nine years. Analyst Cryptollica noted that every major altcoin season in past market cycles started after Ethereum stopped losing value against Bitcoin.

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