Key points
- BlackRock’s Ethereum ETF is the first US Ethereum fund to reach $1 billion in inflows.
- ETHA’s performance is solid, but it lags behind the achievements of BlackRock’s Bitcoin ETF.
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BlackRock’s iShares Ethereum Trust, also known as ETHA, has become the first US spot Ethereum exchange-traded fund (ETF) to achieve $1 billion in net inflows, according to Farside Investors. data sample.
This marks a significant milestone, though the fund lags behind the early performance of BlackRock’s iShares Bitcoin Trust (IBIT), which surpassed the $1 billion mark in just four days. Despite the slower pace compared to Bitcoin ETFs, demand for Ethereum-based funds like ETHA is growing, though not at the same explosive rate as their Bitcoin counterparts.
The $1 billion milestone was set after ETHA gained $26.8 million on Aug. 20. Data from Farside shows that only BlackRock’s ETF and Bitwise’s Ethereum fund (ETHW) gained on Tuesday, while other competitive ETFs, excluding Grayscale’s ETHE, reported zero flows.
Investors have withdrawn approximately $2.5 billion from Grayscale’s ETHE since it became an ETF. Like its Bitcoin counterpart, the fund charges relatively high fees compared to other investment options.
While ETHE has consistently seen negative flows since its debut, outflows appear to have slowed recently.
Retreats It reached a peak of 484 million dollars On the fund’s first day of trading, the pace was similar to the first week, but slowed down at the beginning of the month. The lowest outflows were recorded last Wednesday, at $16.9 million.
BlackRock’s Ethereum and Bitcoin ETFs have… surpassed Grayscale’s in assets under management for the first time, with a marginal lead in their collective holdings.
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