Most investors in funds negotiated on spot ether, asset managers, Blackrock and Fidelity Investments are faced with significant losses, according to the Crypto Glassnode analysis company.
“The average investor in the ETFs of Blackrock and Fidelity Ethereum is now substantially underwater on their position, holding an unrealized loss of approximately -21% on average,” said Glassnode in its May 29 report.
Ether (ETH) is currently negotiated at $ 2,601, according to CoinmarketCap data. However, the BlackRock ETF SPOT has a cost base of $ 3,300, while Fidelity is higher at $ 3,500.
The funds fell on Trump’s prices
The last time Ether was negotiating above $ 3,000, it was on February 2, before entering a downward trend after US President Donald Trump signed an executive decree to impose import rates on goods from China, Canada and Mexico.
“We can see that net outings are starting to accelerate when the cash price fell below this average level of FNB investors’ costs in August 2024 and January 2025,” added the company.
Ether reached its annual hollow of $ 1,472 on April 9, on the same day, Trump’s world prices entered into force. However, the ether climbed 44.25% in the last month, and the ETF for spots recorded nine consecutive days of entries totaling $ 435.6 million since May 16, because the uncertainty of the trade war has started to cool.
Some analysts anticipate more upward trend for the cryptography market after a US federal court blocked most of Trump’s prices on May 28.
Since the launch of the ETHE ETF has been launched in the United States in July 2024, they have recorded $ 2.94 billion in entries. When launching on July 23, Ether was negotiated at around $ 3,536.
Meanwhile, Glassnode suggested that the ETFs had little impact on Ether’s cash price. “ETHEREUM ETHEREUM initially represented only ± 1.5% of the commercial volume in the punctual markets, suggesting a relatively lukewarm reception when launching,” he said.
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Glassnode said that ETFs experienced a stronger growth period in November 2024, when the measure increased to more than 2.5%.
This coincided that Trump winning the American presidential election during the same month, the entire cryptography market entered a one -month rally that saw Ether reaching $ 4,007 on December 8.
The measure has since decreased around 1.5%, said Glassnode.
On March 20 at the Digital Asset Summit, the manager of digital assets of BlackRock, Robbie Mitchnick, noted that the Ether ETF spot is “less perfect” without punctuating.
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This article does not contain investment advice or recommendations. Each investment and negotiation movement involves risks and readers should conduct their own research when they make a decision.
