Goldman Sachs has acquired $25 million in Ethereum ETFs.
Citadel has purchased more than $3.5 million in these investment funds
During the third quarter of the year, institutional investment in exchange-traded funds (ETFs) based on ether (ETH), the digital currency of the Ethereum ecosystem, skyrocketed.
This is shown by the 13F forms that several financial giants filed with the United States Securities and Exchange Commission (SEC).
It is important to clarify that this documentation must be presented to the regulatory entity only by institutional investors who manage more than 100 million dollars. These quarterly reports detail the stock holdings of major investment funds.
Goldman Sachs, one of the largest investment banking and financial services firms in the world, reported that for the first time it made investments in the ETFs of the native currency of the Ethereum network for more than 25 million dollars.
The document details that the bank acquired 100,000 shares of the Grayscale Ethereum Mini Trust ETF (ETH) and 9 million shares of the Fidelity Ethereum Fund (FETH).
For its part, Citadel, a Chicago-based asset fund, reported that it has among its holdings more than $3.5 million distributed in shares between Bitwise Ethereum ETF (ETHW), Fidelity Ethereum Fund (FETH) and the iShares Ethereum Trust (ETHA), the ETF managed by BlackRock.
Cantor Fitzgerald, a financial services firm, bought more than 25,000 shares of the ETHA fundvalued at $502,667.
As explained in Criptopedia, the educational section of CriptoNoticias, spot funds are an indirect way to have exposure to ether. These ETFs allow investors of all types to participate in the cryptocurrency market without managing their custody.
These ETH financial instruments, launched on the market in July 2024, report money outflows of more than $3 million. However, since Donald Trump’s victory in the United States elections, their performance has improved, to the point that they managed a streak of 6 consecutive days with tickets for more than 600 million dollars.
The good performance of the funds had a direct impact on the price of ETH that after several months, traded above $3,000 again. At the time of publication of this note, its price is $3,033.
Because of how they work, companies that manage ETFs must buy and hold ETH in their treasuries to back their actions.
If they are successful, greater demand will be generated in the market, driving the price higher. On the contrary, If they do not prosper, the firms must liquidate the surplusincreasing the supply and generating downward pressure on its price.
