BlackRock’s iShares Ethereum Trust, known as ETHA, has nearly reached $900 million in total investments just 11 days after its launch.
On August 6, the fund saw $109.9 million in new investments, pushing its total to $869.8 million since it started on July 23. This was the third-highest day for inflows, as investors took advantage of Ether’s 18% price drop on August 5.
With $870 million in inflows, ETHA is now one of the top six performing ETFs launched in 2024. Among the top performers, four are Bitcoin ETFs, including BlackRock’s own IBIT. ETHA also gained $47.1 million on August 5, during a day when the crypto market faced significant losses. Despite this downturn, ETHA’s recent inflows put it in the top 10% of ETFs launched this year.
Interestingly, ETHA achieved these results without offering staking returns or options trading. On August 6, all spot Ether ETFs together saw $98.4 million in new investments, making it their best day after their launch.
Fidelity’s spot Ethereum ETF was the second-largest gainer on August 6, with $22.5 million, while Grayscale’s Ethereum Mini Trust and Franklin Ethereum ETF saw $4.7 million and $1 million, respectively.
However, Grayscale’s more expensive Ethereum product, ETHE, experienced an outflow of $39.7 million. Despite ETHA’s strong start, the total for spot Ether ETFs includes $473.9 million in outflows, largely due to the $2.2 billion that has left Grayscale’s ETHE. Since hitting a low of $2,197 on August 5, Ether’s price has partially recovered to $2,494.
