BlackRock’s Ethereum ETF Surpasses $1 Billion in Total Value Amid Renewed Enthusiasm
Ruholamin Haqshanas is a contributing crypto writer for CryptoNews. He is a crypto and finance journalist with over four years of experience. Ruholamin has been featured in several high-profile crypto...
The US market for spot Ethereum exchange-traded funds (ETFs) has seen a shift in investor sentiment, with the largest weekly inflows recorded since early August.
The surge marks the end of a six-week streak of consecutive outflows, signaling renewed enthusiasm among investors.
According to data from SoSoValue, US-based spot Ethereum ETFs saw inflows totaling $58.7 million on Friday alone.
This helped the funds achieve a net positive inflow of $84.5 million for the week, breaking a six-week cycle of net outflows.
Fidelity’s FETH fund led the charge with a one-day inflow of $42.5 million, followed by BlackRock’s ETHA fund, which attracted $11.5 million.
While Fidelity’s fund recorded the highest single-day inflow, it was BlackRock’s ETHA fund that reached a remarkable milestone.
Just two months after its launch, the fund’s total net asset value surpassed $1 billion, making it only the second Ethereum ETF to achieve this benchmark, following Grayscale’s Ethereum Mini Trust.
The achievement places BlackRock’s Ethereum ETF among the top 20% of more than 3,700 ETFs available in the US market, as noted by Nate Geraci, president of The ETF Store.
Other funds also posted gains on Friday, with Bitwise’s ETHW receiving $5.4 million, Invesco’s QETH attracting $4.3 million, Grayscale’s ETH logging $2.3 million, VanEck’s ETHV taking in $2.0 million, and 21Shares’ CETH seeing $1.4 million in inflows.
However, not all funds benefitted equally; Grayscale’s ETHE experienced $10.7 million in outflows, while Franklin’s EZET saw no change in inflows
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