BlackRock’s ETHA Becomes First Ethereum ETF to Cross $1B in Net Inflows

As a seasoned researcher with a penchant for all things finance and technology, I find myself both intrigued and amused by the recent developments in the crypto ETF market. The milestone achieved by BlackRock’s iShares Ethereum Trust (ETHA) is indeed impressive, making it the first among its peers to reach $1 billion in cumulative net inflows. However, it’s interesting to note that while ETHA is leading the pack, Ethereum ETFs as a whole are underperforming compared to their bitcoin counterparts.As a crypto investor, I’m thrilled to share that I was part of the wave that propelled BlackRock’s iShares Ethereum Trust (ETHA) past the significant milestone of $1 billion in net inflows this week. This makes ETHA the pioneer among its peers, a group of 11 issuers, according to data available. This surge signifies growing investor confidence in spot ether exchange-traded funds like ours.

ETHA boasts a net asset value exceeding $860 million, second only to Grayscale’s Mini Ether Trust (ETH) and Ethereum Trust (ETHE) in terms of size.

According to SoSoValue data, the inflows into ETHA are greater than the accumulated inflows of the next three largest ETFs – Fidelity’s FETH ($367M), Bitwise’s ETHW ($310M), and Grayscale’s ETH ($227M) – combined. In simpler terms, more money has been flowing into ETHA compared to the total amount invested in these three ETFs.

As a researcher, I’ve observed that other Exchange-Traded Funds (ETFs) have seen minimal inflows, amounting to less than $60 million. Conversely, Grayscale’s ETHE, previously an institutional-only trust product, has experienced significant outflows, totaling approximately $2.7 billion since its launch.

As a crypto investor, I’ve noticed that Exchange Traded Funds (ETFs) based on various cryptocurrencies have fallen short compared to their bitcoin counterparts. In fact, these ETFs have collectively experienced over $440 million in net outflows cumulatively. However, the debut month of spot bitcoin ETFs saw approximately $125 million in daily net inflows, amounting to around $11 billion worth of bitcoin (excluding outflows from Grayscale’s trust-converted GBTC).