DRW Venture Capital Reveals $150 Million in Ethereum ETF Assets
DRW Venture Capital recently revealed a substantial $150 million in Ethereum ETF holdings as the cryptocurrency investment product continues to expand. The disclosure was made through a filing with the US Securities and Exchange Commission (SEC), showcasing the investment firm’s exposure to ETH since the ETF was introduced in late July.
In the United States, the second crypto-based ETF has had a relatively slow start but showed promise with over $4.9 million in net inflows reported recently. This positive development was complemented by the Ether ETF issuer Grayscale breaking a 14-day outflow streak, indicating a turnaround for the product.
The year began with ETFs dominating discussions in the crypto realm, with Bitcoin launching the first crypto-based ETF in the US in January, which proved to be highly successful. Within three months of its launch, Bitcoin reached a record high of $73,000.
While Ethereum’s ETF launch a little over two weeks ago yielded mixed results, institutional interest in the product remains strong. DRW Venture Capital’s disclosure of $150 million in Ethereum ETF holdings underscores this continued interest.
The disclosure coincides with a shift in the trend of outflows for these products. Data from SosoValue revealed that nine Ether ETFs experienced net inflows after three days of negative flow data. BlackRock, in particular, has seen significant success with its ETH ETF nearing $1 billion in net inflows.
BlackRock’s iShares Ethereum Trust, managed by the $10 trillion asset manager, is poised to be the first product to achieve this milestone, expected within the initial three weeks. According to Farside Investor data, ETF Institute co-founder Nate Geraci hailed the product as one of the top launches of 2024 due to its impressive performance thus far.
