BlackRock’s iShares Ethereum ETF is rapidly closing in on Coinbase as the second-largest Ether custodian, presently holding 3.6 million ETH, just 200,000 behind Coinbase. BlackRock has added 1.2 million ETH in less than two months, and it is poised to surpass Coinbase by year-end, potentially reducing Binance's lead to 1.1 million ETH. Meanwhile, BlackRock's Bitcoin ETF, IBIT, holds approximately 745,000 BTC, surpassing both Coinbase and Binance reserves. The trend indicates a significant shift towards custody in regulated ETFs rather than traditional exchanges, showcasing institutional interest in crypto. Bitcoin and Ether inflows across exchanges have been declining, with the 30-day moving averages for BTC inflows hitting their lowest since May 2023. This suggests decreasing selling pressure as investors are reluctant to sell at current market prices. Ether ETFs have seen substantial net inflows, indicating robust demand, despite Bitcoin ETFs experiencing outflows recently. The conditions set the stage for continued bullish trends for both assets into the year-end.

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