BlackRock Leads $455 Million Ethereum ETF Inflows, as ETH Price Shoots 4%
U.S.-listed Ethereum ETFs recorded $455 million in net inflows on August 26, their fourth consecutive day of gains, with BlackRock’s ETHA contributing $323 million.
Bitcoin ETFs saw $88.2 million in inflows, far behind Ethereum ETFs, underscoring a significant shift of capital.BlackRock’s ETHA now manages over $16 billion AUM and holds 3.775 million ETH.
ETH price gained 4.5% on Tuesday, rebounding from last week’s dip and consolidating above $4,600.
World’s largest asset manager BlackRock led the $450 million inflows registered across all US Ethereum ETF issuers on August 26.
Inflows into Ether ETFs have shot up significantly this week, crossing the $13 billion milestone since inception. The ETH ETH$4 64124h volatility:2.1%Market cap:$559.73 BVol. 24h:$35.90 B
price has bounced back once again, gaining 4.5% today, and surging past $4,600 levels.
Spot Ethereum ETF Inflows Surge Again, Led by BlackRock
US-listed Ethereum ETFs recorded $455 million in net inflows on Tuesday, marking their fourth straight day of gains.
Data from SoSoValue shows that both BlackRock and Fidelity led the surge, with ETHA adding $323 million and FETH bringing in $85.5 million. Grayscale’s ETHE and its Mini Ethereum Trust also reported positive inflows.
Spot Ethereum ETF inflows are on the rise. | Source: SoSoValue
Amid the ongoing development, BlackRock iShares Ethereum Trust (ETHA) is hitting new records with $16.5 billion in assets under management.
The asset manager purchased an additional 71,037 ETH, valued at $323.08 million, with $2 billion in trading volume on August 26. This marks the fourth consecutive day of inflows for the fund, bringing its cumulative total to $984 million.
The BlackRock Ethereum ETF now holds a total of 3.775 million of Ethereum, with more than 2million ETH accumulated just over the past two months.
On Tuesday, the ETHA share price surged another 4%, closing at the high of $34.82. Also, the share price is up by over 100% in the last six months, highlighting strong demand for the BlackRock fund.
On Monday, inflows into Ethereum ETFs were more than double those of spot Bitcoin ETFs, signaling a “significant rotational shift” from Bitcoin to Ethereum.
ETH Price Rises 4% Above $4,600
ETH price is once again showing strength after a pullback to $4,300 last week. Since then, Ethereum has regained 7% and is currently trading above $4,600 levels.
Analyst Daan Crypto Trades noted that ETH price is maintaining its diagonal support while consolidating in the current price range. Key levels to monitor include the 2021 all-time high near $4,900 and local support between $4,000 and $4,100.
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