Ethereum ETFs Pass $5 Billion in Inflows, Led by BlackRock’s ETHA
Spot Ethereum exchange-traded funds (ETFs) have attracted over $5 billion in total investments as of July 11. This happened just 12 trading days after they reached the $4 billion mark, showing faster growth than before (the previous $1 billion took 15 trading days).
A big part of this growth came from BlackRock’s Ethereum ETF, called iShares Ethereum Trust (ETHA). In one week alone, ETHA saw $675 million in new investments, making it the sixth most popular ETF in the U.S. during that time, according to Bloomberg analyst Eric Balchunas. He said it was a big step for ETHA, as it's now competing with some of the largest funds.
Even though Ethereum ETFs are smaller than Bitcoin ETFs, ETHA still beat many traditional stock and bond ETFs in weekly inflows. Meanwhile, BlackRock’s Bitcoin ETF (IBIT) brought in even more—$1.7 billion during the same week.
Growth Is Speeding Up
Ethereum ETFs started trading on July 23, 2024. It took 231 trading days to reach $4 billion in total investments. The first $3 billion came in over 216 days. But going from $4 billion to $5 billion took just over two weeks, with five straight days of inflows above $200 million.
On July 10 alone, ETHA saw $300.9 million come in. On July 9 and 11, it brought in $158.6 million and $137.1 million, respectively.
Other Ethereum ETFs from companies like Fidelity (FETH) and Bitwise (ETHW) also gained steady inflows. In contrast, Grayscale’s older Ethereum fund (ETHE) saw investors pulling money out.
As a result, Ethereum ETFs now make up over 10% of the total inflows that U.S.-listed Bitcoin ETFs have received.
