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Buyers of BlackRock and Fidelity’s spot Ether ETFs are at an average unrealized loss of around 21%, says Glassnode.
Most investors in spot Ether exchange-traded funds from asset managers BlackRock and Fidelity Investments are facing significant losses, according to crypto analytics firm Glassnode.
“The average investor in the BlackRock and Fidelity Ethereum ETFs are now substantially underwater on their position, holding an unrealized loss of approximately -21% on average,” Glassnode said in its May 29 report.
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Ether (ETH) is currently trading at $2,601, according to CoinMarketCap data. However, BlackRock’s spot Ether ETF has a cost basis of $3,300, while Fidelity’s is higher at $3,500.