[NEWS] BlackRock's Ethereum Spot ETF Surpasses $1 Billion

BlackRock’s Ethereum Spot ETF "iShares Ethereum Trust ETF (ETHA)" Surpasses $1 Billion in Assets in Just Two Months.

It has been revealed that the total assets of BlackRock’s Ethereum spot ETF, "iShares Ethereum Trust ETF (ETHA)," have exceeded $1 billion in just two months since its launch.

The Ethereum (ETH) spot ETF reversed six consecutive weeks of net asset outflows and recorded its highest weekly asset inflow since early August.

According to data from SoSoValue, U.S.-based Ethereum spot ETFs recorded an asset inflow of $58.7 million on September 27, marking the first time the fund saw positive net asset inflows after six weeks of weekly outflows. The total inflow reached approximately $84.5 million.

Leading the asset inflow on the 27th was Fidelity’s "Fidelity Advantage Ether ETF (FETH)," which recorded an inflow of $42.5 million, followed by BlackRock’s ETHA with an inflow of $11.5 million.

Although Fidelity had a larger inflow, BlackRock’s ETHA exceeded $1 billion in total net assets in just two months following the inflow on the 27th. This makes it the second fund to achieve this amount, following Grayscale’s "Grayscale Ethereum Mini Trust (ETH)."

According to Nate Geraci, president of The ETF Store, this achievement ranks BlackRock’s ETF among the top 20 out of more than 3,700 ETFs available in the U.S. market.

Ethereum Spot ETFs Exceed $10 Billion in Total Assets

Other ETFs that recorded inflows on the 27th include Bitwise’s "Bitwise Ethereum ETF (ETHW)" with $5.4 million, Grayscale’s ETH with $2.3 million, VanEck’s "VanEck Ethereum ETF (ETHV)" with $2 million, and 21Shares' "21Shares Core Ethereum ETF (CETH)" with $1.4 million. Franklin’s "Franklin Ethereum ETF (EZET)" had neither inflows nor outflows, while Grayscale’s "Grayscale Ethereum Trust (ETHE)" saw an outflow of $10.7 million.

For three out of the last five trading days, Ethereum spot ETFs posted positive net inflows, marking the second week of positive inflows since the launch at the end of July.

Futures traders are reportedly showing optimism toward Ethereum, the world’s second-largest cryptocurrency by market capitalization. While the exact reasons are unclear, Ethereum’s price growth has outpaced Bitcoin (BTC) following the recent rate cuts by the Federal Reserve (FRB). The last time inflows were positive was shortly after the ETF’s launch on August 9, and after six consecutive weeks of outflows, it appears that funds are gradually returning to Ethereum spot ETFs.

Reference: SoSoValue
Image: Shutterstock

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