BlackRock Ethereum ETF (ETHA) Hits New Milestones, Enters Top 15 Inflows of All ETFs Launched This Year

Ever since the launch, BlackRock's iShares Ether ETF has seen inflows every single day. As a result, the total ETHA inflows have now crossed more than $618 million in just six trading sessions.

BlackRock’s iShares Ether ETF (NYSE: ETHA) saw a massive inflow on Tuesday, July 30, as the recently launched ETF continues to attract investors.

BlackRock Ethereum ETF hits new milestones

According to data from Farside Investors, BlackRock’s iShares Ether ETF has seen inflows every single day since its launch. The total ETHA inflows now exceed $618 million in just six trading sessions.

Moreover, as highlighted by ETH Store President Nate Geraci, the iShares Ether ETF has managed to secure a spot among the top 15 ETFs by inflows. This is significant considering that over 330 ETFs have been launched so far in 2024. Geraci also noted that the top four inflows have been dominated by spot Bitcoin ETFs.

In *one* week of trading, iShares Ethereum ETF already in top 15 inflows of *all* ETFs launched this yr…

Top 15 out of approx 330 new ETFs.

Top 4 inflows all spot bitcoin ETFs btw.

— Nate Geraci (@NateGeraci) July 31, 2024

no surprise, but still good to see. Model portfolios could be adding exposure to ether ETFs by year-end.

— Samara Cohen (@SamaraCohen) July 29, 2024

In related news, BlackRock’s CIO Samara Cohen said that model portfolios could be seeking exposure to Ether ETFs by the year-end.

On the other hand, the Grayscale Ethereum ETF (NYSE: ETHE) continued to see outflows for the sixth consecutive trading day. On Tuesday, the ETHE outflows were to the tune of $120 million, bringing the total outflows to over $1.8 billion.

However, Grayscales mini-ETH and Fidelity FETH saw inflows of $12.4 million and $16.4 million on Tuesday, respectively. As a result, the net flows turned positive on Tuesday to the tune of $33.7 million.

According to Mads Eberhardt, a senior crypto analyst at Steno Research, the outflows from the Grayscale Ethereum Trust (ETHE) are subsiding, and we could soon see outflows of less than $100 million.

The Grayscale Ethereum Trust (ETHE) net outflow is yet to subside, but it is likely that it will happen this week. When it does, it’s up only from there. pic.twitter.com/mJqbcyUTp5

— Mads Eberhardt (@MadsEberhardt) July 29, 2024

As reported earlier by Finbold, the Grayscale Ethereum ETF has seen outflows of over $1.4 billion in the last 25 days.

ETH price action moving forward

Amid the ETF outflows, the Ethereum price has remained under pressure, slipping over 4.5% over the last week. At press time, ETH is trading at $3,281, with a market cap of $394 billion.

Market analysts believe that ETH could continue to show sideways action throughout August before finally breaking out in September. The Fed rate cut in September could be a major catalyst in the ETH price rally. Analysts also believe that the post-ETF rally for ETH could outshine Solana’s gains.

Also Read: US Fed Meeting Expectations: No Rate Cut Expected In July FOMC

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