Since its launch on July 23, BlackRock’s spot Ether exchange-traded fund (ETF) has attracted $869.8 million in total inflows, according to Farside data.
On August 6 alone, the iShares Ethereum Trust (ETHA) saw inflows of $109.9 million, marking the third-largest single-day inflow for the fund as investors took advantage of Ether’s 18% price drop on August 5.
Nate Geraci, President of The ETF Store, noted on X that the $870 million inflows make ETHA one of the top six ETFs launched this year. Four of the other top performers are spot Bitcoin ETFs.
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Geraci also pointed out that even with the market downturn on August 5, BlackRock’s ETHA still attracted $47.1 million that day. The combined inflows from August 5 and 6 alone would place ETHA among the top 10% of ETFs launched in 2024.
On August 6, total combined inflows for spot Ether ETFs reached $98.4 million, making it the second-best day since launch. Fidelity’s spot Ethereum ETF (FETH) saw the second-largest inflow at $22.5 million, followed by Grayscale Ethereum Mini Trust (ETH) and Franklin Ethereum ETF (EZET) with $4.7 million and $1 million, respectively. Grayscale’s ETHE, which has higher fees, experienced an outflow of $39.7 million.
Ether’s price has shown some recovery since its August 5 downturn, trading at $2,509 at the time of writing, according to BitDegree data.
The performance of Ether ETFs underscores strong investor interest despite volatile market conditions.
Meanwhile, spot Bitcoin ETFs saw outflows totaling $168.4 million on August 5.
Gode is a Web3 Market Analyst who researches the most important industry events and interprets how they affect the wider Web3 space. Her formal education in media culture & digital rhetoric allows her to employ a methodical approach to evaluating critical Web3 news data, including large-scale events and the wider social sentiment within the ecosystem.
Gode is a mutilingual professional, having studied in multiple universities all across Europe. This allows her to have a one-of-a-kind opportunity to analyze Web3 social sentiments spanning different cultures and languages and, in turn, develop a much deeper understanding of how the Web3 space is growing within different communities. With the rest of her team, Gode works to identify crucial crypto news patterns and provide unbiased and data-driven information.
Gode’s passions include working and communicating with people, and when she’s not researching Web3 news, she spends her time traveling and watching true crime documentaries.
