BlackRock’s Ethereum ETF Smashes Records: Third-Fastest to $10B in History

Wall Street’s crypto crush hits new highs as BlackRock’s Ethereum ETF rockets past $10B—faster than 97% of its ETF ancestors. Traders pile in while purists sneer about ‘institutional contamination.’

The speed run:

- Hits $10B AUM before most ETFs finish their morning coffee
- Outpaces even Bitcoin’s early ETF adoption curve
- Proves ETH’s staying power beyond DeFi degenerate circles

Meanwhile, traditional finance vultures circle—happy to profit from the ‘unregulated casino’ they spent years lobbying against. The irony’s thicker than a Bitcoin maximalist’s neckbeard.

Ethereum ETFs continue with consecutive inflows

Meanwhile, the performance of BlackRock ETHA has spilled over to other ETH ETF products.  The products now have 14 days of consecutive inflows starting from July 3, during which the products pulled in around $4 billion in assets under management.

The period also saw ETH ETFs set new records for daily inflows, with the products pulling in $726.74 million on July 16, marking the largest daily inflow since their debut. The second largest and third largest happened within this period, with $602 million on July 17 and $533.8 million on July 222.

While ETH ETFs are commanding inflows, Bitcoin ETFs have been struggling in the past few days, with three consecutive days of outflows this week. Although the outflows are relatively minimal, they highlight changes in market sentiment towards ETH ETFs and the underlying asset itself.

ETH sees surge above $3,700 after recent pullbacks

Meanwhile, the consistent positive FLOW for ETH ETFs has had a positive impact on ETH itself, with the token gaining more than 4% in the last 24 hours. This marks a reversal of recent pullbacks for the token after it fell as low as $3,500 following the rally that took it past $3,800.

With its recent gains, ETH is back above $3,700 after over $41 billion in trading volume over the past 24 hours. It has also increased ETH’s dominance to 11.52%, even though Bitcoin is back to over 60% dominance. The asset price ratio versus Bitcoin increased 2.65% in the past day as well, showing that it is outperforming the flagship asset.

Interestingly, institutional interest is not the only driver of ETH price; the network is also seeing a surge in on-chain activity. According to Growthepie data, ethereum mainnet added $500 million in stablecoins on July 23, and its daily transaction count recently hit 24.69 million, an all-time high.

All this is happening with the ten-year anniversary of the Ethereum network being only a  few days away, and many expect more milestones for the network in the coming days.

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