BlackRock's Ethereum spot ETF has surpassed $10.5 billion in assets under management within a year of its launch, becoming the third-fastest ETF to enter the '10 billion club'. The trend is driven by rising ETH prices and increasing institutional demand.
According to Bloomberg ETF expert Eric Balchunas, BlackRock's iShares Ethereum Trust (ETHA) doubled its assets from $5 billion to $10 billion in just ten days. He noted it is "the third-fastest ETF in history to reach $10 billion" and ranks after Bitcoin ETFs IBIT and FBTC.
Recently, ETHA had zero daily inflows, while Fidelity's FETH set a record by attracting $210 million in a single day. On the same day, total net inflows for US ETH spot ETFs were $231 million, marking the 15th consecutive day of net inflows. The total inflow over the past 7 trading days was $3 billion, nearly one-third of total inflows since issuance.
Experts highlight that Ethereum spot ETF investment enthusiasm is even hotter than Bitcoin spot ETF. ETF Store's Nate Geraci stated that in the past 6 trading days, ETH net inflows consistently outpaced Bitcoin, with ETH ETF inflows totaling $2.4 billion compared to $830 million for Bitcoin ETFs.
Bitwise Investment Management estimates that institutional ETFs and corporate assets have purchased approximately 2.8 million ETH since mid-May, which is 32 times the net increase in ETH supply during that period.
Market reactions are notable. While Bitcoin dropped over 3% in 12 hours, Ethereum maintained a stable price. Currently, ETH is trading around $3,630, with a 48% increase over the past month, signaling a potential broader altcoin rally.
Nick Ruck from LVRG Research suggested that Ethereum ETF and large-scale options might soon reverse market conditions, presenting an opportunity for Bitcoin and the broader cryptocurrency market.
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