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

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 .

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