BlackRock’s iShares Ethereum Trust (ETHA) has set a new milestone, becoming the first Ethereum ETF to exceed $1 billion in cumulative net inflows. As of Tuesday, ETHA leads among 11 Ethereum ETF issuers with this achievement.
Currently, ETHA manages over $860 million in net assets, ranking third behind Grayscale’s mini ether trust (ETH) and Ethereum trust (ETHE). Notably, ETHA’s net inflows surpass the combined total of the next three highest ETF inflows. Specifically, Fidelity’s FETH has accumulated $367 million since its launch on July 23, Bitwise’s ETHW has attracted $310 million, and Grayscale’s ETH has drawn in $227 million. Other ETFs have garnered less than $60 million in net inflows.
In contrast, Grayscale’s ETHE, which transitioned from an institutional-only trust, has faced significant challenges with $2.7 billion in net outflows since its inception.
Ethereum ETFs as a whole have struggled compared to their bitcoin counterparts, experiencing cumulative net outflows exceeding $440 million. In comparison, the first month of spot bitcoin ETFs saw daily net inflows of about $125 million, accumulating over $11 billion in total inflows, excluding outflows from Grayscale’s GBTC.
BlackRock’s bitcoin fund also made a strong showing, ranking among the top five ETFs of all types in 2024 inflows, placing it on par with major indexing funds like the iShares Core S&P 500 ETF (IVV) and the Vanguard S&P 500 ETF (VOO).
Featured image from: cointelegraph.com