Spot Ether ETFs Attract $98M in Inflows; BlackRock’s Fund Reaches $870M Since Launch
Spot Ether exchange-traded funds (ETFs) saw a combined inflow of $98.4 million on August 6, marking their best day since their launch on July 23.
BlackRock’s iShares Ethereum Trust (ETHA) recorded substantial inflows of $109.9 million on the day, raising its total to $869.8 million since its launch on July 23.
The surge marked ETHA’s third-largest inflow day as investors capitalized on Ether’s recent 18% price drop on August 5, according to Farside Investors.
The $870 million inflow positions BlackRock’s spot Ether ETF among the top six best-performing ETFs launched in 2024, noted Nate Geraci, President of The ETF Store.
He highlighted that four of the other top performers are spot Bitcoin ETFs, including BlackRock’s IBIT.
Enormous regulatory barriers still in place for spot btc & eth ETFs…
-No in-kind creation & redemption
-No options trading
-No staking on eth ETFs
And these products are still challenging & shattering ETF industry records.
Should tell you something about investor demand.
— Nate Geraci (@NateGeraci) August 7, 2024
Notably, ETHA attracted $47.1 million on “Black Monday” for the crypto industry, a day when over $600 million in leveraged long positions were liquidated.
Despite the market turmoil, the combined inflows for ETHA on August 5 and 6 placed it in the top 10% of ETFs launched this year.
These achievements came without the spot Ether ETFs offering staking returns or options trading.
Meanwhile, Fidelity’s spot Ethereum ETF recorded the second-largest inflow with $22.5 million, followed by Grayscale Ethereum Mini Trust and Franklin Ethereum ETF with $4.7 million and $1 million, respectively.
“TradFi slurping up that ETH,” commented Anthony Sassano, host of the Ethereum show The Daily Gwei.
However, Grayscale’s
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