BlackRock's Ether ETF ETHA Attracts Over $1B in Inflows Within Two Months of Its Launch
Despite the fact that crypto investors are adopting a more optimistic outlook regarding the price of Ethereum (ETH), the Ethereum ETF has experienced substantial inflows.
BlackRock’s iShares Ether ETF has amassed more than $1 billion in assets in a mere two months.
Despite the fact that crypto investors are adopting a more pessimistic outlook regarding the price of Ethereum (ETH), the Ether ETF has experienced significant inflows.
Nate Geraci, the president of the ETF store and anchor of ETFPrime, confirmed today that the Blackrock iShares Ether ETF had gained more than $1 billion in just two months. He stated:
“The iShares Ethereum ETF now has >$1 billion in assets under management. For context, it ranks in the top 20% of the 3,700 ETFs.”
In its initial 11 trading days following its July 23 inauguration, the Ether ETF experienced substantial inflows, totaling more than $869.8 million.
The Blackrock ETF received over $117.9 million in a single day on June 30 and over $109.9 million on August 6 during the 11-day period. This accumulation of inflows was sufficient to place it among the top six best-performing ETFs in 2024, with spot Bitcoin ETFs accounting for four out of the five top performers.
Nate Geraci also commented on ETHA’s performance at that time, stating that the cumulative ETHA flows on Aug. 5 and 6 alone placed it in the top 10% of ETFs launched in 2024, despite the market’s decline.
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By September 16, 2024, the iShares ETF had generated approximately $992 million in earnings, which was more than double the amount of the Fidelity Ethereum fund, which had only $382 million at that time.
The US Securities and Exchange Commission provided a detailed explanation of its decision to reschedule the approval and listing of options on Blackrock and Biwise spot Ether ETFs in a filing on September 24.
Nasdaq’s proposed rule change to approve listing and trading options for spot Ether ETFs prompted the commission to postpone the approval date until November 10. The SEC has indicated that the proposed rule changes will require a slightly extended review period.
The regulator had previously approved and listed options trading on BlackRock’s spot Bitcoin ETF (IBIT) on September 20, marking the first of its kind.
Sean Feeney, the Head of US Options at Nasdaq, conveyed the company’s satisfaction with the commission approval and listing of IBIT options. He stated that the listing would provide investors with an additional low-cost risk management instrument and defend them.
The SEC also postponed a decision on NYSE American LLC’s proposed rule change to list and trade options on the Bitwise Ethereum ETF, the Greyscale Ethereum Trust, and the Grayscale Mini Trust in a separate filing. NYSE American has also set a new deadline for November.
Also Read: Bybit Acquires License in Kazakhstan and Assumes Leadership in XRP Futures
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