BlackRock’s Ethereum ETF Hits $10B in Just 10 Days – Smashing Records as Third-Fastest in History

Wall Street’s crypto crush just got hotter. BlackRock’s Ethereum ETF exploded past $10 billion in assets under management (AUM) in a blistering 10-day sprint—making it the third-fastest fund in history to hit that milestone. Move over, slow-moving legacy finance.

The speed of adoption? Unprecedented. Even for a firm that usually measures progress in fiscal quarters, not days. But hey, when there’s money to be made, even traditional giants learn to move fast.

What’s fueling the frenzy? Institutional FOMO, mostly. After years of dismissing crypto as a ‘niche asset,’ the same suits who once scoffed are now scrambling for exposure. And Ethereum—with its smart contracts and DeFi dominance—is their shiny new toy.

Of course, cynics will note this is the same BlackRock that once warned clients about crypto’s ‘speculative risks.’ Funny how a 10-digit AUM changes the narrative.

One thing’s clear: When the world’s largest asset manager pivots, markets follow. Whether this ETF surge is genius or just another bubble waiting to pop? Well, that’s why they call it speculation.

BlackRock ETHA’s Rise Shows Growing Institutional Appetite for Ethereum Exposure

According to Balchunas, all three of the fastest-growing ETFs in history are spot crypto funds, a reflection of the strong investor demand for regulated crypto exposure.

“LOOK OUT: $ETHA just hit $10b in one year flat, the 3rd fastest ETF to hit that mark in history after (you guessed it) two bitcoin ETFs, $IBIT & $FBTC,” Balchunas said Thursday on X.

The ETF, which launched in early 2024, took just 251 days to hit the $10 billion mark. That figure puts ETHA ahead of major traditional products like JPMorgan’s Nasdaq Equity Premium Income ETF (JEPQ), which needed 444 days to reach the same level.

Commenting on the development, Nate Geraci, president of NovaDius Wealth Management, wrote, “We’re talking about an ETF industry that’s been around for over 3 decades & has nearly 4,400 products. The 3 fastest ETFs to $10B are now all spot crypto ETFs.”

While ETHA’s growth is rapid, it still trails the record pace set by BlackRock’s iShares Bitcoin Trust (IBIT), which reached $10 billion in just 34 days. Fidelity’s FBTC followed closely behind at 54 days.

The growing interest in ETHA indicates continued appetite for regulated crypto investment vehicles, especially as the ETF industry adapts to the presence of digital assets.

Ethereum, which accounts for roughly one-third of Bitcoin’s market cap, is now showing that it can attract institutional interest on a similar scale, albeit at a different pace.

Ethereum ETFs Surge With $726M Daily High, Total Holdings Near $20B

The surge comes amid broader momentum for Ethereum-based funds, which have seen increasing inflows since receiving final approval from the U.S. Securities and Exchange Commission (SEC) in July 2024.

The nine U.S.-listed spot Ethereum ETFs began trading on July 23, 2024, and have since recorded $8.32 billion in total net inflows.

While Bitcoin ETFs still dominate the market with over $54 billion in total inflows, Ethereum funds are now gaining traction. On July 16, Ethereum ETFs logged their highest daily inflow to date of $726.74 million.

That was followed by $602 million on July 17 and $533.87 million on July 23—marking the third-highest single-day inflow on record. That same day, Ethereum ETF holdings hit an all-time high of $19.85 billion in total assets.

BlackRock has consistently led the pack in flows. On July 23, the firm brought in $426.22 million alone, followed by Grayscale with $72.64 million and Fidelity with $35.01 million.