BlackRock’s spot Ether exchange-traded fund (ETF) has continued to attract significant investor interest, recording $109.9 million in inflows on August 6. This brings the total inflows to $869.8 million since its launch on July 23.
According to Farside Investors, this marks the iShares Ethereum Trust’s third-largest single-day inflow, as investors sought to capitalize on Ether’s recent 18% price drop to $2,511 on August 5.
The impressive $870 million in inflows now places BlackRock’s spot Ether ETF among the top six best-performing ETFs launched in 2024, according to Nate Geraci, President of The ETF Store. Notably, four of the other top performers are spot Bitcoin ETFs, including BlackRock’s own IBIT.
On the crypto industry’s “Black Monday,” which saw over $600 million in leveraged long positions liquidated, BlackRock’s Ether ETF (ETHA) managed to pull in an additional $47.1 million. Despite the overall market downturn, ETHA’s combined inflows on August 5 and 6 alone place it within the top 10% of ETFs launched this year, Geraci added.
These achievements are particularly notable given that the issuers of spot Ether ETFs have not yet offered staking returns or options trading.
Meanwhile, other spot Ether ETFs collectively saw $98.4 million in inflows on August 6, marking their best day since the launch date of July 23. Fidelity’s spot Ethereum ETF recorded the second-largest inflow at $22.5 million, while the Grayscale Ethereum Mini Trust and Franklin Ethereum ETF saw inflows of $4.7 million and $1 million, respectively.
“Traditional finance is eagerly accumulating Ether,” commented Anthony Sassano, host of the Ethereum-focused show The Daily Gwei.
However, not all spot Ether ETFs saw positive inflows. Grayscale’s higher-fee Ethereum product, tickered ETHE, was the only one to report an outflow, totaling $39.7 million.
