BlackRock’s Ethereum ETF Net Flows Near $900M in Just 11 Days

YEREVAN (CoinChapter.com) — BlackRock’s iShares Ethereum Trust, also known as ETHA, has accumulated nearly $900 million in net inflows after just 11 trading days. On August 6, ETHA saw significant inflows of $109.9 million, bringing the total to $869.8 million since its launch on July 23.

According to Farside Investors, this marks ETHA’s third-largest flow day. Investors rushed to capitalize on Ether’s 18% price drop on August 5. This influx made ETHA one of the top six best-performing ETFs launched in 2024, noted Nate Geraci, President of The ETF Store.

ETHA’s Resilience on Crypto Black Monday Shows Investor Confidence

ETHA attracted $47.1 million on the crypto market’s “Black Monday,” a day that saw over $600 million in leveraged long positions wiped out. Despite the market downturn, ETHA’s combined flows on August 5 and 6 placed it in the top 10% of ETFs launched this year, according to Geraci.

BlackRock’s ETHA achieved this without offering staking returns or options trading, which are common in other investment products. This shows significant investor confidence in ETHA.

Ethereum ETFs See Record Inflows with Fidelity Leading, Grayscale ETHE Outflows

On August 6, Ethereum ETFs collectively saw $98.4 million in net inflows, their best day outside of their launch day on July 23. Fidelity’s spot Ethereum ETF (FETH) recorded the second-largest inflow at $22.5 million. The Grayscale Ethereum Mini Trust and Franklin Ethereum ETF saw $4.7 million and $1 million in inflows, respectively.

However, Grayscale’s higher fee Ethereum product, ETHE, recorded an outflow of $39.7 million, the only spot Ethereum ETF to see outflows during this period.

Ethereum Bounces Back Amid Strong ETF Inflows

Ethereum price has partially recovered since hitting a low of $2,423.07 on August 5. It has since risen by 4.0% to $2,520.51, according to CoinGecko data. This price recovery is notable given the market’s recent volatility and the substantial inflows into spot Ethereum ETFs.

The significant inflows into BlackRock’s ETHA highlight the strong interest from traditional finance (TradFi) investors in Ethereum. “TradFi slurping up that ETH,” remarked Anthony Sassano, host of Ethereum show The Daily Gwei.

Ethereum ETF Net Flows Overview

The detailed daily net flows of Ethereum ETFs from July 23 to August 6, 2024, reveal the market dynamics:

• BlackRock ETHA: Consistently strong inflows, totaling $869.8 million.
• Fidelity FETH: Second in inflows with a total of $335.8 million.
• Grayscale ETHE: Notable outflows totaling $2.2 billion, contrasting with other Ethereum ETFs.

This comprehensive view underscores the shifting investor sentiments and the appeal of different ETH ETF offerings in the market.

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