Ethereum Surges on BlackRock ETF Filing

Ethereum surged this week on news that the asset management giant BlackRock had filed an ETF application for the world’s second-largest cryptocurrency. 

ETH – Daily Chart

ETH – Daily Chart 

ETH surged this week to $2,000 and followed the recent strength of Bitcoin

“A massive short squeeze occurred overnight in Ethereum. The funding rate is the highest ever and signals total panic for shorts,” Matrixport’s head of crypto research, Markus Thielen, wrote in a report following BlackRock’s surprise application for an exchange-traded fund (ETF) application. 

The asset management giant’s surprise filing came after the landmark June Bitcoin spot ETF application, which could spark a retail rush to crypto assets. 

“This is nuclear winter for everybody who doubted ethereum,” Thielen said. “Market-neutral crypto hedge funds are making a killing with these funding rates. Inflows into crypto hedge funds will be high on the agenda for allocators.” 

Investors are now awaiting the arrival of a BTC ETF where retail money could surge into crypto. 

Ethereum has suffered price losses alongside the broader crypto market since its peak in late 2021. The collapse of the non-fungible token market and the decline of interest in the decentralised finance market blocked ETH.

Recent News
Start Trading Now!

Try our demo account for free to learn trading. When you’re ready, switch to the live account and start trading for real.

Popular posts

ATFX

The Firm has taken the decision to cease providing services to retail clients, with immediate effect. We are therefore unable to accept any applications.

Services to professional clients will not be impacted. For professional applications please contact [email protected]

ATFX

Restrictions on Use

Products and Services on this page are not suitable for MENA residents. Such information and materials should not be regarded as or constitute a distribution, an offer, solicitation to buy or sell any investments.

ATFX

Restrictions on Use

Products and Services on this website https://www.atfx.com/en-ae/ are not suitable
in your country. Such information and materials should not be regarded as or
constitute a distribution, an offer, or a solicitation to buy or sell any investments.
Please visit https://www.atfx.com/en/ to proceed.

ATFX

使用限制

本网站的产品及服务不适合英国居民。网站内部的信息和素材不应被视为分销,要约,买入或卖出任何投资产品。请继续访问 https://www.atfx.com/en/

ATFX

Restrictions on Use

Products and Services on this website are not suitable for the UK residents. Such information and materials should not be regarded as or constitute a distribution, an offer, or a solicitation to buy or sell any investments. Please visit https://www.atfx.com/en/ to proceed.

ATFX

Restrictions on Use

Products and Services on this website are not suitable for the UK residents. Such information and materials should not be regarded as or constitute a distribution, an offer, or a solicitation to buy or sell any investments. Please visit https://www.atfx.com/en/ to proceed.

ATFX

Restrictions on Use

Products and Services on this website are not suitable for Hong Kong residents. Such information and materials should not be regarded as or constitute a distribution, an offer, solicitation to buy or sell any investments.

使用限制: 本網站的產品及服務不適合香港居民使用。網站內部的信息和素材不應被視為分銷,要約,買入或賣出任何投資產品。

ATFX

Restrictions on Use

AT Global Markets (UK) Limited does not offer trading services to retail clients.
If you are a professional client, please visit https://www.atfxconnect.com/