On Thursday, BlackRock’s iShares Ethereum Trust (ETHA) made headlines by garnering an impressive $546.7 million in a single day, marking a new record for the fund. This considerable inflow is part of a remarkable 10-day streak that has seen the fund accumulate a total of $2.1 billion in net inflows.
This achievement occurred just one day after the ETHA secured $489 million, reflecting the increasing interest in Ethereum, the world’s second-largest cryptocurrency, particularly among institutional investors.
ETF Frenzy Reshaping ETH Landscape
According to data from SoSoValue, on July 17, spot Ethereum ETFs attracted impressive daily net inflows totaling $602.02 million, approaching the remarkable record of $726.74 million achieved on July 16. Leading the pack, ETHA succeeded in pulling in a record-breaking $546.70 million in new capital.
The fund’s performance has been notable; it has recorded ten consecutive days of positive trading since incurring nearly $47 million in outflows on July 2. In this period, it has amassed $2.132 billion in net inflows, contributing significantly to the overall sector total, which has seen $2.8 billion in gains during the same time frame.
BlackRock may have spearheaded the surge, but several other funds have also contributed, albeit to a lesser extent. Fidelity’s FETH registered $17.19 million in inflows, pushing its total assets to $2.09 billion, while Grayscale’s traditional ETH fund added $29.9 million, despite its mini ETH Trust (ETHE) remaining stable.
Additionally, Bitwise’s ETHW ETF attracted $4.44 million, bringing its total inflows to over $408 million, and 21Shares’ CETH fund saw a more modest inflow of $3.78 million, showcasing the fund’s now cumulative assets of $41 million. Even smaller ETFs like Franklin Templeton’s EZET and Invesco’s QETH have experienced steady flows, though they reported no new inflows yesterday.
Cumulatively, inflows across all Ethereum ETFs have exceeded $7 billion, as reported by SoSoValue, with total assets under management reaching $17.32 billion. This represents approximately 4.19% of Ethereum’s total market capitalization.
These funds have enjoyed inflows for ten consecutive weeks. The last instance of outflows occurred in early May, when the sector collectively lost over $38 million. Since then, crypto investment products have demonstrated remarkable growth, with the $1.78 billion in total net inflows recorded since July 14 being the most significant during this recovery phase.
Furthermore, SoSoValue’s data indicates that July has become the most successful month for spot ETH ETFs since their inception. To date, they have attracted over $2.88 billion in new capital, with ten trading days remaining. The previous high occurred in December 2024, when the sector welcomed inflows totaling $2.08 billion.
ETH Price Soars on Institutional Tailwinds
The market’s response to this influx of institutional investment has been overwhelmingly positive. Ethereum’s price has surged to levels not seen in six months. At the time of writing, ETH is trading at $3,630 after a remarkable 8.5% increase in the past 24 hours.
The cryptocurrency has recorded a 22.2% gain over the past week and a notable 43% increase over the month. This turnaround has significantly improved its year-on-year performance, reducing the decline to just -6.3% and narrowing the gap to its all-time high of $4,878 to under 26%.
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