BlackRock Leads with $901M in Inflows Amid $4.9M Surge in US Ethereum ETFs

• The US spot Ethereum ETFs attracted a substantial inflow of $4.9 million on Monday.
• Grayscale Ethereum Trust (ETHE) marked a milestone with no withdrawals for the first time since its conversion to an ETF following 14 days of outflows.
• Monday’s trading volume for these ETFs was robust, reaching $286 million on August 12th, a significant increase from Friday’s figure of $166.9 million.

Discover the latest in Ethereum ETFs as inflows surge and major funds set new trends in the crypto market.

Record-Breaking Inflows and No Withdrawals for Grayscale Ethereum Trust

On Monday, the US spot Ethereum ETFs received total inflows amounting to $4.9 million. A highlight was the Grayscale Ethereum Trust (ETHE), which reported no withdrawals for the first time since its conversion into an ETF after enduring 14 consecutive days of outflows. This marks a significant moment, showcasing increasing investor confidence in Ethereum-based assets.

Fidelity Ethereum Fund Leads the Pack

The Fidelity Ethereum Fund (FETH) was at the forefront of this influx, recording an impressive $3.98 million in inflows. Close on its heels was the Bitwise Ethereum ETF (ETHW) with $2.86 million, and the Franklin Ethereum Trust (EZET), which garnered $1.01 million. These figures reflect a growing enthusiasm among investors towards Ethereum ETFs.

Performance of Other Major Ethereum ETFs

According to data from SoSoValue, most of the other major Ethereum ETFs registered positive net inflows on August 12th, with the notable exception of the VanEck Ethereum Trust (ETHV), which saw net outflows of $2.92 million. This was the first outflow recorded for ETHV since July 23. Notably, the Grayscale Ethereum Mini Trust (ETH) and Invesco Galaxy Ethereum ETF (QETH) did not show any flow activity for the day.

BlackRock’s iShares Ethereum Trust: A Market Leader

Despite recording zero inflows on Monday, BlackRock’s iShares Ethereum Trust (ETHA) has demonstrated significant success since its launch on July 23rd, accumulating over $901 million in inflows. This remarkable achievement places BlackRock at the top of the Ethereum ETF market, surpassing competitors like Fidelity Investments, Bitwise, Grayscale Investments, and VanEck. Such growth is indicative of the strong investor demand and confidence in Ethereum-linked investments managed by BlackRock.

Impact of Market Conditions on Ethereum Investments

During the recent market downturn, Ethereum emerged as a beneficiary, with investors leveraging the lower prices to increase their holdings. This trend was clearly reflected in a report by CoinShares, which highlighted that Ethereum-based investment products saw inflows of $155 million over the past week. The strategic buy-in during the dip underscores a broader market belief in the long-term potential of Ethereum.

Conclusion

The significant inflows into US spot Ethereum ETFs, coupled with Grayscale’s milestone of zero withdrawals, signal a robust investor interest and confidence in Ethereum as a viable asset. Fidelity, Bitwise, and BlackRock’s remarkable inflows further underscore this trend. As market conditions fluctuate, Ethereum continues to attract substantial investments, highlighting its pivotal role in the evolving crypto landscape. Investors and market watchers will be keenly observing how these ETFs continue to perform and influence the broader market dynamics.