DRW Venture Capital has recently revealed its substantial investment in Ethereum, disclosing $150 million in holdings within an Ethereum ETF. This disclosure comes as part of a filing with the U.S. Securities and Exchange Commission (SEC), highlighting the firm’s engagement with the cryptocurrency market since the ETF’s launch in late July.
Despite a slow start for the second cryptocurrency-based ETF in the United States, it has shown signs of recovery, reporting over $4.9 million in net inflows as of Thursday. Notably, Grayscale, the issuer of the Ether ETF, has ended a 14-day streak of outflows, signaling a potential turnaround for the product.
The enthusiasm for ETFs has surged since the beginning of the year, particularly following the launch of the first crypto-based ETF in January, which saw Bitcoin reach an all-time high of $73,000 just three months later. Ethereum’s ETF, launched more than two weeks ago, has experienced mixed results but continues to attract institutional interest. Data from SosoValue indicates that nine Ether ETFs have recorded net inflows after a period of negative flow, with BlackRock’s ETH ETF leading the charge and approaching $1 billion in net inflows.
As the iShares Ethereum Trust from BlackRock aims to become the first Ethereum ETF to reach this milestone, ETF Institute co-founder Nate Geraci has praised its performance, labeling it as one of the “top 6 launches of 2024.”
