BlackRock’s spot Ether ETF amasses nearly $900M since launch

BlackRock’s iShares Ethereum Trust has almost hit $900 million in total inflows after just 11 trading days.

BlackRock’s spot Ether exchange-traded fund (ETF) saw $109.9 million in inflows on Aug. 6, bringing its total inflows to $869.8 million since its launch on July 23.

According to Farside Investors, it marked the iShares Ethereum Trust’s (ETHA) third biggest flow day as investors looked to capitalize on Ether’s (ETH) 18% price fall on Aug. 5.

The $870 million in inflows puts BlackRock’s spot Ether ETF in the top six best-performers of all ETFs launched in 2024, according to Nate Geraci, president of The ETF Store.

Four of the other five best performers are spot Bitcoin (BTC) ETFs, including BlackRock’s iShares Bitcoin Trust, he added.

BlackRock’s ETHA also scooped up $47.1 million on the crypto industry’s “Black Monday,” which saw over $600 million in leveraged long positions wiped out.

Despite the massive market fall, the combined flows for ETHA on Aug. 5 and 6 alone puts it in the top 10% of ETFs launched in 2024, Geraci added.

All this has been achieved without the spot Ether ETF issuers offering staking returns and options trading.

Meanwhile, spot Ether ETFs saw a combined $98.4 million inflow on Aug. 6 — their best day since launching on July 23.

Fidelity’s spot Ethereum ETF saw the second largest inflow on Aug. 6 at $22.5 million, while the Grayscale Ethereum Mini Trust and Franklin Ethereum ETF saw $4.7 million and $1 million in inflows, respectively.

“TradFi slurping up that ETH,” said Anthony Sassano, host of Ethereum show The Daily Gwei.

Grayscale’s higher-fee Ethereum product, the Grayscale Ethereum Trust, was the only spot Ether ETF to record an outflow of $39.7 million.

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Despite ETHA’s strong start, the spot Ether ETFs have still seen a combined $473.9 million in outflows when factoring in the $2.2 billion that has left Grayscale’s ETF.

Ether has partially recovered since bottoming out at $2,197 on Aug. 5, up 13.5% to $2,494, CoinGecko data shows.